In a report released today, Michael Lasser from UBS maintained a Buy rating on Advance Auto Parts (AAP – Research Report), with a price target of $170. The company’s shares closed last Monday at $139.51.
According to TipRanks.com, Lasser is a 5-star analyst with an average return of 7.3% and a 61.1% success rate. Lasser covers the Services sector, focusing on stocks such as Floor & Decor Holdings Inc, Bed Bath & Beyond, and Williams-Sonoma.
Currently, the analyst consensus on Advance Auto Parts is a Moderate Buy with an average price target of $175.50, implying a 27.0% upside from current levels. In a report issued on August 12, J.P. Morgan also maintained a Buy rating on the stock with a $222 price target.
Based on Advance Auto Parts’ latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $143 million. In comparison, last year the company had a net profit of $118 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 offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.