From Financial Modeling Prep: 2024-11-15 07:28:00

CFRA analysts downgraded Advance Auto Parts (NYSE:AAP) from Hold to Sell, with a new 12-month target price of $25, down from $55. The company reported a third-quarter adjusted loss per share of $0.04, missing estimates by a wide margin. Revenue fell 3% to $2.15 billion, with comparable store sales declining by 2.3%.

Advance Auto Parts revised its 2024 guidance, forecasting fourth-quarter net sales of $1.90 billion and an adjusted EPS loss between $1.50 and $0.90. The company also adjusted earnings estimates for 2024 and 2025 to $0.10 and $1.40 per share, respectively, down from previous estimates. CFRA expressed concerns over the company’s ability to stabilize operations.



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