Barclays Maintains an 'Equalweight' on Advance Auto Parts (AAP); Management Meeting Takeaways
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Price: $56.96 --0%
Rating Summary:
9 Buy, 30 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 6 | New: 10
Rating Summary:
9 Buy, 30 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 6 | New: 10
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Barclays maintains an 'Equalweight' on Advance Auto Parts (NYSE: AAP) price target of $70.00.
Barclays analyst says, "Optimistic management outlook. At yesterday's event, management appeared optimistic about the macro environment and the company's ongoing moves to grow its commercial business. Management heavily emphasized its goal to deliver superior parts availability, along with the support initiatives necessary to achieve this. Management highlighted moves to further develop the company's hub strategy, complete its Remington, Indiana distribution center, enhance its global sourcing initiative and build out its e-commerce platform. We are encouraged by the company's efforts to build out its DIFM platform, and its reiteration of a 12% EBIT margin goal."
"We continue to view positively the dynamics within the auto parts space, as the non-discretionary nature of the sector continues to support revenue growth and profitability well above other sub-sectors under our coverage. AAP has made significant strides in improving its profitability, and we believe that this is reflected in today's share price."
For an analyst ratings summary and ratings history on Advance Auto Parts click here. For more ratings news on Advance Auto Parts click here.
Shares of Advance Auto Parts closed at $68.75 yesterday.
Barclays analyst says, "Optimistic management outlook. At yesterday's event, management appeared optimistic about the macro environment and the company's ongoing moves to grow its commercial business. Management heavily emphasized its goal to deliver superior parts availability, along with the support initiatives necessary to achieve this. Management highlighted moves to further develop the company's hub strategy, complete its Remington, Indiana distribution center, enhance its global sourcing initiative and build out its e-commerce platform. We are encouraged by the company's efforts to build out its DIFM platform, and its reiteration of a 12% EBIT margin goal."
"We continue to view positively the dynamics within the auto parts space, as the non-discretionary nature of the sector continues to support revenue growth and profitability well above other sub-sectors under our coverage. AAP has made significant strides in improving its profitability, and we believe that this is reflected in today's share price."
For an analyst ratings summary and ratings history on Advance Auto Parts click here. For more ratings news on Advance Auto Parts click here.
Shares of Advance Auto Parts closed at $68.75 yesterday.
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