Roth MKM analyst Scott Stember maintains a Hold rating on Advance Auto Parts with a $50 price target, citing the company's recent earnings release and corporate insider activity. Stember has an average return of 9.3% and a 61.42% success rate on recommended stocks. The word on the street suggests a Hold consensus rating with a $51.56 average price target, a -16.58% downside from current levels.
Advance Auto Parts (AAP) continues to face a Hold rating consensus from Wall Street analysts, with a majority of analysts predicting a -16.58% downside from the current price of $61.81. The average 12-month price target stands at $51.56, according to a recent analysis by TipRanks [1].
Roth MKM analyst Scott Stember reiterated his Hold rating on AAP, setting a price target of $50. Stember cited the company's recent earnings release and corporate insider activity as key factors influencing his decision [1]. Stember has an average return of 9.3% and a 61.42% success rate on recommended stocks, adding credibility to his analysis.
The Hold consensus is echoed by other prominent analysts such as UBS's Michael Lasser, who raised the price target to $65, and Wells Fargo's Zachary Fadem, who set a target of $45. However, Goldman Sachs downgraded AAP to a Sell rating, reflecting differing views on the company's future performance [1].
Looking ahead, AAP is expected to report earnings of $0.81 per share for the next quarter, with sales forecasted at $2.00 billion. Despite these projections, the company has not beaten its earnings or sales estimates in the past 12 months, aligning with industry averages [1].
Investors should remain vigilant as the market continues to digest the latest earnings reports and analyst ratings. The Hold rating consensus suggests a cautious outlook, with analysts advising against significant upside potential in the near term.
References:
[1] https://www.tipranks.com/stocks/aap/forecast
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