Advance Auto Parts (AAP) Gets A Very Positive 5 STARs Strong Buy Rating From S&P
Posted: Thursday, August 26, 2010 9:12 AM EDT
By: Market Intelligence Center Staff
Advance Auto Parts (NYSE: AAP) closed yesterday at $54.86. So far the stock has hit a 52-week low of $36.11 and 52-week high of $56.21. Advance Auto Parts stock has been showing support around 53.36 and resistance in the 55.90 range. Technical indicators for the stock are Bullish and S&P gives AAP a very positive 5 STAR (out of 5) strong buy rating. AAP appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Dec '10 50 covered call for a net debit in the $48.06 area. That is also the break even stock price for this trade. This covered call has an 114 day duration, provides 12.40% downside protection and a 4.04% assigned return rate for a 12.92% annualized return rate (comparison purposes only). Advance Auto Parts has a current annual dividend yield of 0.44%. [THA-Seven Summits Research]
CLICK HERE: FREE Advance Auto Parts (AAP) Stock ReportSee what our analysts have uncovered about Advance Auto Parts (AAP).