Advance Auto Parts remains top value idea for 2013, says RW Baird Baird continues to call Advance Auto Parts a top value idea for 2013 despite weak revenue numbers. The firm expects Q2 to be an inflection for sales, maintains its theme of vehicle replenishment, notes steady industry fundamentals, and valuation for its Outperform rating and $90 price target.
Starboard expected to disclose 3.7% stake in Advance Auto Parts, WSJ reports Starboard Value is expected to announce that it has built up a 3.7% stake in Advance Auto Parts (AAP) at an investment conference in Toronto today, The Wall Street Journal reports. According to a presentation reviewed by the publication, Starboard has already met with Advance Auto's management and is urging the company to drive margins higher and improve operations. Starboard believes Advance Auto is lagging behind AutoZone (AZO) and O'Reilly Automotive (ORLY) in profit margins. Reference Link