What's Happening With AAP
Advance Auto Parts (AAP) is scheduled to report its second-quarter numbers before the market open on August 14. Earnings are expected to rise to $1.84 per share from $1.58 during the same period last year. The stock has outperformed in 2018, appreciating 38.6% year to date.
AAP was recently trading at $147.08 down $1.62 from its 12-month high and $68.27 above its 12-month low. InvestorsObserver’s Stock Score Report gives AAP an 86 long-term technical score and a 94 short-term technical score. The stock has recent support above $140 and recent resistance below $148.75. Of the 19 analysts who cover the stock 8 rate it Strong Buy, 2 rate it Buy, 6 rate it Hold, 1 rate it Sell, and 2 rate it Strong Sell, AAP gets a score of 73 from InvestorsObserver’s Stock Score Report.
AAP has enjoyed strong gains since the stock turned bullish late last year, and the gains have been fueled by a string of three consecutive earnings beat. While earnings have been much better than expected, the company did miss on sales last quarter, but the market overlooked the sales miss and pushed shares to a new 52-week high in the time since. AAP remains just shy of its 52-week high, and another strong report could easily see the stock climb to set a new high for the year. The street expects another good report, with a whisper number of $1.91 versus the consensus $1.84.
About Advance Auto Parts Inc W/I
Advance Auto Parts is one of the industry's largest retailers of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in North America. Advance operated 5,109 stores as of the end of 2018, in addition to servicing 1,231 independently owned Carquest stores. The company's Worldpac unit is a premier distributor of imported original-equipment parts. Advance derived 58% of its 2018 sales from commercial clients, up from 30%-40% before the General Parts deal.