Keep an eye on beaten-down shares of Advance Auto Parts (AAP).

The stock plummeted from about $110 to $65.67 on poor quarterly earnings. However, insiders recently bought $1.2 million worth of the stock in June alone at an average price of $65.51 a share. Company Chair Eugene Lee bought 7,635 shares for $500,160, for example.

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“I don’t believe the current stock price reflects the potential of the company,” said Lee, as quoted by Barron’s. “I’m confident in the company delivering significant value, which is why I recently purchased additional shares. I remain bullish on the future of Advance Auto Parts.”


Ian Cooper