Advance Auto Parts Likely To Post Sharp Decline In Q2 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Advance Auto Parts, Inc. AAP is expected to report financial results for its second quarter 2023, before the opening bell on Aug. 23, 2023.

Analysts expect the company to post quarterly earnings at $1.66 per share, down sharply from year-ago earnings of $3.74 per share. The company’s revenue might come in at $2.66 billion, compared to $2.67 billion in the year-ago period.

Advance Auto Parts shares fell 1.3% to close at $67.34 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Wells Fargo analyst Zachary Fadem maintained an Equal-Weight rating and cut the price target from $80 to $70 on June 5, 2023. This analyst has an accuracy rate of 87%.
• Goldman Sachs analyst Kate McShane maintained a Neutral rating and decreased the price target from $155 to $82 on June 2, 2023. This analyst has an accuracy rate of 70%.
• UBS analyst Michael Lasser maintained a Neutral rating and slashed the price target from $132 to $75 on June 1, 2023. This analyst has an accuracy rate of 81%.
• Truist Securities analyst Scot Ciccarelli maintained a Hold rating and cut the price target from $144 to $67 on June 1, 2023. This analyst has an accuracy rate of 79%.
• JP Morgan analyst Christopher Horvers downgraded the stock from Overweight to Neutral and cut the price target from $165 to $84 on June 1, 2023. This analyst has an accuracy rate of 73%.

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