These Analysts Slash Their Forecasts On Advance Auto Parts After Q3 Results

Comments
Loading...

Advance Auto Parts Inc. AAP posted a loss for the third quarter on Wednesday.

Advance Auto Parts reported third-quarter FY23 sales growth of 2.9% year-on-year to $2.719 billion, beating the analyst consensus of $2.68 billion. The company reported an EPS loss of 82 cents.

The company lowered the FY23 EPS outlook to $1.40-$1.80 versus the $4.65 estimate (Prior View: $4.50-$5.10). The company revised the FY23 revenue outlook to $11.250 billion-$11.300 billion versus the $11.27 billion estimate (Prior View: $11.25 billion - $11.35 billion ).

Advance Auto Parts shares fell 7.3% to trade at $51.59 on Thursday.

These analysts made changes to their price targets on Advance Auto Parts following earnings announcement.

  • B of A Securities cut the price target on Advance Auto Parts from $60 to $43. B of A Securities analyst Elizabeth Suzuki downgraded the stock from Neutral to Underperform.
  • Goldman Sachs slashed the price target on Advance Auto Parts from $83 to $73. Goldman Sachs analyst Kate McShane maintained a Neutral rating.
  • Wedbush lowered the price target on Advance Auto Parts from $80 to $60. Wedbush analyst Seth Basham maintained a Neutral rating.
  • JP Morgan lowered the price target on Advance Auto Parts from $78 to $55. JP Morgan analyst Christopher Horvers maintained a Neutral rating.

Check This Out: Top 4 Financial Stocks You'll Regret Missing This Month

AAP Logo
AAPAdvance Auto Parts Inc
$35.375.17%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum12.49
Growth93.89
Quality-
Value77.54
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise

Posted In: