Advance Auto Parts Gives Investors an Opportunity to Benefit From a Post-Integration Turnaround
Trading at a compelling (around 20%) discount to our $177 per share valuation, we believe narrow-moat Advance Auto Parts presents an attractive entry point in a company poised to benefit from favorable industry conditions as it refocuses on operational improvement. While its troubled integration with General Parts has been a disappointment thus far, the firm is emerging from the difficulties oriented to benefit from the faster-growing professional segment (about 57% of Advance’s overall sales) a...Advance Auto Parts is an automotive aftermarket parts provider in North America, serving both professional installers (Professional), and do-it-yourself (DIY), customers as well as independently owned operators. The company's stores and branches provide a range selection of brand name, original equipment manufacturer and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks. Through its integrated operating approach, the company serves its Professional and DIY customers through a variety of channels ranging from brick and mortar store locations to self-service e-commerce sites.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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