Advance Auto Parts (AAP) is a specialty retailer of automotive parts, accessories and maintenance items. The company aims to improve its supply chain and vendor terms to combat the difficult industry metrics.
AAP enjoys an excellent liquidity position that enables the company to follow an aggressive share repurchase program. In the most recent quarter, the company outperformed the Zacks Consensus Estimate by $0.19 per share.
These factors have led us to upgrade the recommendation on shares from Neutral to Outperform with a target price of $58.Zacks Investment Research
