#3 - Advance Auto Parts (NYSE:AAP)
Another trend within the transportation industry revolves around consumer transportation. Cars. It’s a well-known fact that prices for new cars have steadily risen over the last couple of years and that rise is driving a shift to used cars.. That’s where Advance Auto Parts comes into the picture.
Advance Auto Parts is a leading retailer of after-market, replacement parts, and maintenance supplies for the automotive industry. The company services both home-repairmen and professional installers across North America and has seen a high-single-digit boost to its revenue following the pandemic.
The 2nd quarter results were so strong, in fact, the analysts have since come out to up their targets for the year. Share prices have moved higher in the wake of those upgrades but the stock still offers a significant value at only 17X its estimated 2021 earnings. Wall Street analysts think the stock should trade closer to 21X the 2021 consensus or about 20% upside.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.
Read More - Current Price
- $44.01
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 14 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $48.64 (10.5% Upside)
