Advance Auto Parts (AAP) Receives a Hold from Wells Fargo

In a report released today, Zachary Fadem from Wells Fargo maintained a Hold rating on Advance Auto Parts (AAPResearch Report), with a price target of $175. The company’s shares closed yesterday at $149.95, close to its 52-week low of $143.03.

Fadem said:

“We believe these headwinds are likely to outweigh solid U.S. Census trends (+4.6% in CQ2), low gas prices and a step change in inflation. Thus, we are lowering our Q2/Q3 comp estimate by 50bps/20bps to +1.5%/+1.2%. Looking at AAP’s calendar (4/21- 7/13), we believe Q2 started solid with 1 week of late-April, turned negative in May (weather/compares), and finished slightly better with an improving June and modestly better, but rainier July.”

According to, Fadem is a 5-star analyst with an average return of 10.4% and a 65.4% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Michaels Companies.

Advance Auto Parts has an analyst consensus of Moderate Buy, with a price target consensus of $183.50.

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The company has a one-year high of $186.15 and a one-year low of $143.03. Currently, Advance Auto Parts has an average volume of 1.13M.

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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.