Advance Auto Parts (AAP)

• Market cap: $2.6B
• 1 day: 3.72%
• 5 days: -0.09%
• 1 month: 12.66%
• 3 months: 6.17%
• 6 months: -34.20%
• Year to date: -29.75%
• 1 year: -26.80%
• 5 years: -72.48%
• 10 years: -72.70%
• Sector: Consumer Discretionary
• Industry: Auto & Home Supply Stores

About: Advance Auto Parts is a leading auto parts retailer in North America with more than 4,000 store and branch locations. About 55% of the firm's sales are geared toward the professional channel, with the remaining 45% going to the do-it-yourself market. Through its vast store footprint and distribution network, Advance manages thousands of stock-keeping units conducive to various vehicle makes and models. The retailer primarily competes on the basis of inventory availability and service speed, making the operating efficiency of its hub and spoke distribution model critical to meeting customer needs.

Employees: 69,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

25% more funds holding in top 10

Funds holding in top 10: 4 [Q2] → 5 (+1) [Q3]

1.88% less ownership

Funds ownership: 110.66% [Q2] → 108.78% (-1.88%) [Q3]

10% less funds holding

Funds holding: 398 [Q2] → 360 (-38) [Q3]

17% less repeat investments, than reductions

Existing positions increased: 115 | Existing positions reduced: 138

38% less call options, than puts

Call options by funds: $197M | Put options by funds: $316M

38% less first-time investments, than exits

New positions opened: 62 | Existing positions closed: 100

40% less capital invested

Capital invested by funds: $4.17B [Q2] → $2.51B (-$1.66B) [Q3]

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $39 10% downside
• Avg. target: $45 4% upside
• High target: $55 26% upside

9 analyst ratings

• positive: 1 11%
• neutral: 8 89%
• negative: 0 0%

BMO Capital Tristan Thomas-Martin 56% 1-year accuracy 5 / 9 met price target	3% upside $45	Market Perform Initiated	13 Dec 2024
Evercore ISI Group Greg Melich 84% 1-year accuracy 54 / 64 met price target	3% upside $45	In-Line Maintained	20 Nov 2024
Wedbush Seth Basham 72% 1-year accuracy 101 / 141 met price target	26% upside $55	Outperform Reiterated	15 Nov 2024
DA Davidson Michael Baker 58% 1-year accuracy 23 / 40 met price target	3% upside $45	Neutral Maintained	15 Nov 2024
RBC Capital Steven Shemesh 67% 1-year accuracy 33 / 49 met price target	15% upside $50	Sector Perform Maintained	15 Nov 2024