Credit Suisse Maintain Their Buy Rating on Advance Auto Parts

By Ryan Adsit

Credit Suisse analyst Seth Sigman reiterated his Buy position on Advance Auto Parts (NYSE: AAP) today and set a price target of $122. The company’s shares opened today at $119.03.

According to TipRanks.com, Sigman is a 1-star analyst with an average return of -1.9% and a 47.5% success rate. Sigman covers the Services sector, focusing on stocks such as Camping World Holdings, Dick’s Sporting Goods, and Wal-Mart Stores Inc.

Advance Auto Parts has an analyst consensus of Moderate Buy, with a price target consensus of $125.13.

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Based on Advance Auto Parts’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $185 million. In comparison, last year the company had a net profit of $108 million.

Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is neutral on the stock.

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Advance Auto Parts, Inc. engages in the supply and distribution of aftermarket automotive products for professional installers, do-it-yourself customers, and independently owned operators. It offers automotive parts and batteries, accessories and chemicals, and engine maintenance.