Advance Auto Parts Expanding to 5 More Long Island Locations as DIY Car Maintenance Grows in Popularity
May 5, 2023
Trending News ☀️
Advance Auto Parts ($NYSE:AAP), a leading American provider of automotive parts, accessories, and maintenance products, has recently announced expansion plans to open five new locations on Long Island. This move comes as DIY car maintenance is becoming increasingly popular amongst motorists, due to high car prices and the desire to take control of their vehicle’s maintenance. As a result, customers are turning to Advance Auto Parts for their automotive needs. Advance Auto Parts offers an expansive selection of quality parts, ranging from brakes and filters to batteries and spark plugs. Customers can purchase items online or in-store, and the company provides helpful tools and resources for do-it-yourselfers who are looking to gain more knowledge about car maintenance.
In addition, the company provides expert advice from certified technicians for customers who are in need of assistance with their vehicle. The expansion of Advance Auto Parts on Long Island is a testament to the company’s commitment to providing customers with quality parts and reliable service. By establishing new stores in the area, the company will be able to better serve those that are looking for assistance with their DIY car maintenance needs. With their extensive selection of products and expert advice, Advance Auto Parts is sure to remain a go-to resource for Long Islanders.
Price History
On Monday, ADVANCE AUTO PARTS stock opened at $125.6 and closed at $125.5, signaling the company’s expansion plans to five more locations on Long Island. With the opening of these five additional locations, ADVANCE AUTO PARTS will be able to provide customers with even more comprehensive service and access to essential car part products. With more and more people turning to do-it-yourself car maintenance, the company has seen a strong demand for its products and services.
The additional locations will not only give customers greater access to the car parts they need to complete their projects, but also provide an opportunity for ADVANCE AUTO PARTS to further its reach in the industry. With DIY car maintenance growing in popularity, this move gives customers even more convenient access to all the products they need to keep their vehicles running smoothly. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for AAP. More…
| Total Revenues | Net Income | Net Margin |
| 11.15k | 501.87 | 4.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for AAP. More…
| Operations | Investing | Financing |
| 722.22 | -424.45 | -620.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for AAP. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.02k | 9.34k | 45.19 |
Key Ratios Snapshot
Some of the financial key ratios for AAP are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.7% | 1.8% | 6.3% |
| FCF Margin | ROE | ROA |
| 2.7% | 16.2% | 3.6% |
Analysis
At GoodWhale, we have conducted a thorough analysis of ADVANCE AUTO PARTS’ financials, and determined that its health score is an impressive 8/10, due to its reliable cashflows and low levels of debt. Moreover, its star chart shows that it has strong dividend and profitability, medium asset and weak growth. This led us to the conclusion that it is classified as a ‘cow’, a type of company with a track record of providing consistent and sustainable dividends. Knowing this information, we can predict that investors who are looking for a reliable source of income may be particularly interested in ADVANCE AUTO PARTS. Furthermore, due to its strong financials, it is likely to be attractive to investors who are looking for stability and reliability. More…
Peers
Advance Auto Parts Inc is an American automotive aftermarket parts retailer. Headquartered in Roanoke, Virginia, Advance Auto Parts has over 5,200 stores in the United States, Puerto Rico, and the U.S. Virgin Islands. The company operates under the Advance Auto Parts, Advance Discount Auto Parts, and Auto World names. Genuine Parts Co is an American service organization engaged in the distribution of automotive and industrial replacement parts and products, operating under the NAPA Auto Parts, NAPA Home & Business Solutions, and Worldpac brands. CarParts.com Inc is an American online retailer of aftermarket car parts and accessories, headquartered in Carson, California. O’Reilly Automotive Inc is an American retailer specializing in the sale of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States.
– Genuine Parts Co ($NYSE:GPC)
Genuine Parts Co is a distributor of automotive and industrial replacement parts in the U.S., Canada, Mexico, Australasia, and Africa. It operates through the following segments: Automotive, Industrial, Electrical, and Office Products Group. The Automotive segment offers original equipment and aftermarket products for light and heavy duty vehicles. The Industrial segment supplies replacement parts for various industries, including material handling, transportation, construction, food and beverage, and others. The Electrical segment provides replacement parts for the electrical distribution industry. The Office Products Group segment comprises of office products and office furniture. Genuine Parts was founded by Erskine Henderson on May 13, 1928 and is headquartered in Atlanta, GA.
– CarParts.com Inc ($NASDAQ:PRTS)
CarParts.com Inc has a market cap of 301.17M as of 2022, a Return on Equity of 1.06%. The company is an online retailer of automotive parts and accessories. CarParts.com offers a wide range of parts for all makes and models of vehicles.
– O’Reilly Automotive Inc ($NASDAQ:ORLY)
O’Reilly Automotive Inc is a specialty retailer of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States. As of 2022, it had a market cap of 51.63B and a ROE of -159.26%. The company operates through four segments: Retail Stores, Wholesale Parts, Professional Customer and eCommerce. It offers products under the following brands: O’Reilly Auto Parts, AutoZone, Advance Auto Parts, NAPA Auto Parts and Carquest Auto Parts.
Summary
Advance Auto Parts, a retailer of aftermarket automotive parts, is investing in its future growth. The company has announced that it will be opening five additional stores on Long Island, NY, in response to the high prices of cars. This move is part of a larger effort by the company to expand its presence in the market and capitalize on the potential for increased sales. Analysts suggest that Advance Auto Parts could benefit from increased consumer spending, as the cost of new cars continues to rise and more people look for ways to maintain their vehicles without having to purchase a new one.
Additionally, the company could benefit from a focus on customer loyalty initiatives, such as rewards programs and discounts, which could help it gain a larger share of the market.
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