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0.00167304015296368 0.00185229445506694 -0.00107552581261954 -0.00239005736137671 0.00209130019120455 -0.000179254302103257 -0.00415272466539193 -0.00651290630975145
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Advance Auto Parts: Margin Expansion To Drive Value [Seeking Alpha]

Advance Auto Parts, Inc W/I (AAP)  More Company Research Source: Seeking Alpha
Last advance auto parts, inc w/i earnings: 11/13 06:30 am Check Earnings Report
PDF Summary Advance Auto Parts ( AAP ) has always lagged behind automotive parts retailers AutoZone ( AZO ) and O’Reilly Automotive ( ORLY ), in terms of performance metrics. The company’s net margin is much lower than peers, although many investors see this gap as potential for higher margins. Management addressed the margin gap between AAP and peers, noting that roughly two-thirds of the gap is addressable. Source With shares currently trading at a premium to peers, we believe that upside from margin expansion is baked into the share price. However, we see the potential only partially baked in, with bottom-line growth outperforming investor expectations. As earnings grow, and margins gravitate towards the industry norm, we see the multiple contracting - yet earnings growth would more than offset this. We forecast an EPS of over $10 at some point down the line, excluding any share buybacks. Applying the industry average of 18.6x earnings, we derive a PT of $1 [Read more]

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