Advanced Auto Parts

Advanced Auto Parts (AAP - Analyst Report) recently touched and deflected off of its 52-week high on rising estimates and another strong quarter.

The company reported solid first-quarter results on May 20 that were better than expected. Sales were up 10% from last year to $1.68 billion. Income came in at $93.6 million, up from $82.1 million last year, producing earnings of $1.02, 12 cents ahead of the consensus estimate.

Same store commercial sales were up 17.5% from last year.

Estimates Headed Higher

Estimates continue to climb, with the current-year up 15 cents in the last 30 days to $2.96 per share. The next-year estimate is pegged at $3.27, a 10.5% growth projection.

The Chart

Shares of AAP have been on a big rally for most of the last 7 months, but recently pulled back a bit after hitting the 52-week high. Take a look below.

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