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Advance Auto Parts is Yahoo Finance Plus’ investment idea of the day

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Yahoo Finance’s Jared Blikre reports details on Yahoo Finance’s Investment idea of the day.

Video Transcript

ALEXIS CHRISTOFOROUS: And we got to get to our Yahoo Finance Plus Investment Idea of the Day, which is a bullish call on Advanced Auto Parts. What's going on there?

JARED BLIKRE: Yeah, let's take a look at YFi Interactive. And we can see what Argus Research is writing about the Advanced Auto Parts today. Now, not quite there. There we go. And we'll just overlay this on the YFi Plus. We'll look at an Advanced Auto Parts chart. And there we finally have it. So let's take a look here.

Now Argus Research is looking for a longer term price target of 215. And here's their reasoning. Advanced shares have outperformed over the past quarter, rising 15%, compared to a 10% gain for the S&P 500 and a 5% advance for the industry. They also recently reported first quarter adjusted EPS. It grew 234% from the prior year and topped the consensus.

Management recently quadrupled the dividend, signaling confidence in the outlook. And their revised target price of 215 implies a projected 2022 gain 18. Still in the lower half of the five-year historical average, so valuation not a concern there. But you can see the stock has been trading sideways over the last month. When we take a look at what's happened over the last year, up 35%. Alexis.

ALEXIS CHRISTOFOROUS: All right, thanks a lot, Jared.