Advance Auto Parts (AAP) looks interesting.
After pulling back from about $87.50 to $70.46, the stock appears to have caught strong support. From here, we’d like to see it retest resistance at $87.50 again shortly. Helping, Director Brent Windom, who was added to the Board by the Third Point hedge fund, recently bought 10,000 shares of AAP at an average price of $83.45 a share.
AAP also declared a 25-cent quarterly dividend, which is payable on April 26 to shareholders of record as of April 12. In addition, Truist analyst Scot Ciccarelli raised the firm’s price target on Advance Auto Parts to $70 from $60 with a hold rating.