TipRanksStock Market NewsAAP NewsAdvance Auto Parts (AAP) Receives a Hold from Morgan Stanley

Advance Auto Parts (AAP) Receives a Hold from Morgan Stanley

Morgan Stanley analyst Simeon Gutman maintained a Hold rating on Advance Auto Parts (AAPResearch Report) today and set a price target of $240.00. The company’s shares closed last Wednesday at $220.28.

According to TipRanks.com, Gutman is a 1-star analyst with an average return of -0.4% and a 56.7% success rate. Gutman covers the Consumer Goods sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Bj’s Wholesale Club Holdings, and Floor & Decor Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Advance Auto Parts with a $266.21 average price target, a 20.3% upside from current levels. In a report issued on February 10, RBC Capital also maintained a Hold rating on the stock with a $239.00 price target.

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Based on Advance Auto Parts’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.4 billion and net profit of $81.67 million. In comparison, last year the company earned revenue of $2.37 billion and had a net profit of $112 million.

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Advance Auto Parts, Inc. engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.

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