Advance Auto Parts Gets Price Target Cuts By Analysts After Downbeat Q1 Results
Portfolio Pulse from Lisa Levin
Advance Auto Parts (AAP) reported disappointing Q1 results, with sales growth of 1.3% YoY to $3.42 billion, missing estimates. Earnings of 72 cents per share also missed the consensus of $2.57. The company reduced its full-year guidance and quarterly dividend. Several analysts downgraded the stock and cut price targets.
June 01, 2023 | 11:47 am
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Advance Auto Parts reported weak Q1 results, missing estimates and reducing guidance. Analysts downgraded the stock and cut price targets, causing the stock to drop.
Advance Auto Parts reported worse-than-expected Q1 results, leading to reduced full-year guidance and dividend. This caused several analysts to downgrade the stock and cut price targets, resulting in a negative short-term impact on the stock price.
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IMPORTANCE 100
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