But Advance Auto Parts Stock, J.P. Morgan Says. Here’s Why.

Text size

J.P. Morgan analyst Christopher Horvers upgraded Advance Auto Parts stock to Overweight from Neutral, and lifted his price target to $190 from $183.


Caitlin O’Hara/Bloomberg


Advance Auto Parts

is climbing on Tuesday, thanks to an upgrade. JPMorgan argues that the auto-parts retailer is a buy for a very relatable reason: 2021 has to look better than this year.

Analyst Christopher Horvers upgraded Advance Auto Parts stock (ticker: AAP) to Overweight from Neutral, and lifted his price target to $190 from $183. He writes that Covid-19 adversely affected Advance Auto than

AutoZone

(AZO) and

O’Reilly Automotive

(ORLY), given its concentration of stores in hard-hit areas in the Northeast, with comparable sales trailing those of peers in the spring months. Therefore, it may bounce back more easily as the threat of the pandemic starts to recede.

Of course, we’re not quite there yet, and many people are still working from

Read More

Read More

Advance Auto Parts Names Mann + Hummel 2020 Vendor of the Year

Leading automotive aftermarket parts provider recognizes three additional brand partners during its Virtual Vendor Summit

Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts retailer, presented its 2020 Vendor of the Year awards during the company’s annual Vendor Summit held virtually this year in Raleigh, N.C. During the event, Advance honored a number of its vendors for their partnership and performance.

The 2020 Vendor of the Year award was presented to Mann + Hummel, a global leader and expert in the field of filtration and the maker of Purolator filters. Mann + Hummel, which has been a partner of Advance for more than 35 years, was recognized for its innovative solutions that have helped Advance’s sales and market share growth.

“In this unprecedented year, every one of our vendor partners played a vital role in our ability to meet the needs of our customers,” said Mike Broderick, Executive

Read More

Read More

Auto Parts and Accessories Market 2020: Research Report Covers Updated Data Considering Impact of Covid-19 on Share, Size and Future Demand

The MarketWatch News Department was not involved in the creation of this content.

Sep 30, 2020 (PRNews Times via COMTEX) —
Big Market Research is one of the prominent market research firms has announced a novel report on Auto Parts and Accessories Market. The report contains vital insights on the market which will support the clients to make the right business decisions. The report also analyzes current and past market performance with significant key market events that help market players and end users to estimate future developments in the global market.

The Global Auto Parts and Accessories Market is gaining pace and businesses have started understanding the benefits of analytics in the present day highly dynamic business environment. The market has witnessed several important developments over the past few years, with mounting volumes of business data and the shift from traditional data analysis platforms to self-service business analytics being

Read More

Read More

Advance Auto Parts Inc (NYSE:AAP), Amazon.com, Inc. (NASDAQ:AMZN) – BofA: Auto Parts Retailers Have Strong Margins In $300B Market

Bank of America is out with thoughts on the $300 billion aftermarket auto parts and repair market based on survey results.

The Takeaways: Suzuki highlights four large companies in the auto parts market in AutoZone (NYSE: AZO), O’Reilly Automotive (NASDAQ: ORLY), Advance Auto Parts (NYSE: AAP) and Genuine Parts Company (NYSE: GPC).

“The US automotive parts and repair market is large, stable, highly profitable (versus other segments of the auto value chain, and relatively fragmented,” analyst Elizabeth Suzuki wrote in a note.

Auto parts retailers have seen a 13.5% average margin compared to 5.4% for new vehicle manufacturers, 8% for parts manufacturers and 3% for auto dealers.

In the do-it-yourself market, AutoZone leads the way with 14% market share. Advance Auto Parts, O’Reilly and Genuine have market shares of 6%, 9% and 3% respectively. New car dealers make up 4% of the market.

The do-it-for-me market sees new car dealers

Read More

Read More

Advance Auto Parts Announces Pricing of Cash Tender Offer for Any and All of Its Outstanding 4.50% Senior Unsecured Notes Due December 1, 2023

RALEIGH, N.C.–(BUSINESS WIRE)–Advance Auto Parts, Inc. (“Advance”) (NYSE: AAP), a leading automotive aftermarket parts provider in North America, announced today that it has priced the previously announced cash tender offer for any and all of its outstanding 4.50% senior unsecured notes due December 1, 2023 (CUSIP No. 00751Y AC0) (the “Notes”), on the terms and subject to the conditions set forth in the Offer to Purchase, dated September 22, 2020 (as it may be amended or supplemented from time to time, the “Offer to Purchase”), and the related Notice of Guaranteed Delivery attached to the Offer to Purchase (the “Notice of Guaranteed Delivery”). The tender offer is referred to herein as the “Offer.” The Offer to Purchase and the Notice of Guaranteed Delivery are referred to herein collectively as the “Offer Documents.”

Certain information regarding the Notes and the pricing for the Offer is set forth in the

Read More

Read More

TVC Mall Rolled Out Mobile And Car Replacement Parts And Accessories Online At Competitive Rates – Press Release

To serve customers with their much-coveted cases, covers, and parts, the online store has expanded its existing collection.

As one of the pioneers in the consumer electronics market online, TVC Mall has rolled out a vast collection of Samsung cases, cables, chargers, and other car and mobile accessories for its consumers. The online store has decided to offer special discounts to their patrons who want to purchase these consumer electronics products in wholesale. The owners of TVC Mall said at a recent press conference that they will ensure that only genuine replacement parts that come with warrantee from original equipment manufacturers are now being offered by the company.

According to one of the spokespersons of the company, “Originality of the product comes first. If customers opt for Samsung parts, we will ensure that the parts are genuine and comes with a proper warranty. Besides, the store is well-stocked

Read More

Read More

Monday Sector Leaders: Auto Parts, General Contractors & Builders

The MarketWatch News Department was not involved in the creation of this content.

Sep 28, 2020 (MarketNewsVideo.com via COMTEX) —
In trading on Monday, auto parts shares were relative leaders, up on the day by about 5%. Leading the group were shares of Commercial Vehicle Group (CVGI), up about 14.1% and shares of Workhorse Group (WKHS) up about 12.1% on the day.

Also showing relative strength are general contractors & builders shares, up on the day by about 4.6% as a group, led by Beazer Homes USA (BZH), trading higher by about 7.2% and Hovnanian Enterprises (HOV), trading higher by about 6.8% on Monday.

The preceding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=20200920200928leaderslagCV&mv=1.

http://www.marketnewsvideo.com/

COMTEX_372001971/2478/2020-09-28T13:13:31

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright 2020 MarketNewsVideo.com

The MarketWatch News

Read More

Read More

Auto parts imports from China down 42% during April-July: Ministry data


Auto components and parts imports from China dropped by around 42 per cent during April-July 2020 to $246.33 million from $424.32 million, a year ago. Internal combustion (IC) engines and imports reduced to $58.78 million from $89.57 million, according to the Ministry of Commerce and Industry data.


Industry representatives have attributed the drop to the pandemic-driven slowdown in automobile sales. However, with the government’s push for more localisation and initiatives undertaken by the industry, additional business of Rs 25,000–30,000 crore within the next 3-4 years is possible and if volumes are sustained.


Last year, India imported components worth $17 billion, of which China accounted for 26 per cent or $4.5 billion. The rest came from South Korea, Germany and Japan, among others, Auto Component Manufacturers’ Association of India (ACMA) data shows.


ALSO READ: Auto component firms eye higher exports, low imports to become

Read More

Read More

Auto Parts Maker Shiloh Cleared For Del. Ch. 11 Sale Plan


By Archive



Email Jeff Montgomery


href=”https://www.law360.com/#”>Jeff Montgomery

Law360 is providing free access to its coronavirus coverage to make sure all members of the legal community have accurate information in this time of uncertainty and change. Use the form below to sign up for any of our daily newsletters. Signing up for any of our section newsletters will opt you in to the daily Coronavirus briefing.

Law360 (September 25, 2020, 9:08 PM EDT) —
Auto parts supplier Shiloh Industries received a green light Thursday for its Delaware Chapter 11 stalking horse sale plan, with an affiliate of private equity firm MiddleGround Capital LLC tapped as the bidder-to-beat with a $218 million offer for the business.

The decision positioned the company, which produces motor vehicle frames and other components for cars and trucks, to begin a more than month-long sale effort for the Ohio-based manufacturer.

MiddleGround affiliate Grouper Holdings LLC will

Read More

Read More