NEW YORK, June 29 (Reuters) - Shares of Advance Auto Parts Inc. could fall 20 percent or more, according to an article in Barron's that said the prospects for the No. 2 U.S. parts retailer may not justify the recent run-up in its stock. Shares closed at $60.24, up 24 cents, in Friday New York Stock Exchange trade. Since hitting a low of $36.99 in February, the stock has risen 83 percent. Advance Auto's share price may be overvalued, Barron's Vito Racanelli wrote in the issue dated June ...
Premium Content (PAID Subscription Required)
"Advance Auto shares could get hit - Barron's" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.