Advance Auto Parts Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Advance Auto Parts, Inc. AAP is set to release first-quarter financial results, before the opening bell on Wednesday.

Analysts expect the Raleigh, North Carolina-based company to report quarterly earnings at 70 cents per share, down from 72 cents per share in the year-ago period. Advance Auto Parts is expected to post revenue of $3.43 billion, compared to $3.42 billion a year ago, according to data from Benzinga Pro.

On March 11, Advance Auto Parts said it has appointed A. Brent Windom, Gregory L. Smith and Thomas W. Seboldt as independent directors to its board, effective immediately. In connection with these appointments, the company has entered into a cooperation agreement with Third Point LLC and Saddle Point Management, L.P.

Advance Auto Parts shares rose 0.2% to close at $69.57 on Friday.

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.

• Wedbush analyst Seth Basham reiterated a Neutral rating with a price target of $70 on May 24. This analyst has an accuracy rate of 73%.
• Evercore ISI Group analyst Greg Melich maintained an In-Line rating and cut the price target from $82 to $78 on April 16. This analyst has an accuracy rate of 62%.
• Truist Securities analyst Scott Ciccarelli maintained a Hold rating and raised the price target from $60 to $70 on April 2. This analyst has an accuracy rate of 78%.
• JP Morgan analyst Christopher Horvers maintained a Neutral rating and increased the price target from $55 to $68 on Feb. 29. This analyst has an accuracy rate of 71%.
• UBS analyst Michael Lasser maintained a Neutral rating and cut the price target from $75 to $62 on Nov. 16, 2023. This analyst has an accuracy rate of 78%.

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