Advance Auto Parts Earnings Are Imminent; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Author: Avi Kapoor | August 22, 2024 03:48am

Advance Auto Parts, Inc. (NYSE:AAP) is set to release earnings results for its second quarter, before the opening bell on Thursday, Aug. 22.

Analysts expect the Raleigh, North Carolina-based company to report quarterly earnings at 94 cents per share, down from $1.44 per share in the year-ago period. Advance Auto Parts projects to report quarterly revenue of $2.67 billion for the quarter, compared to $2.66 billion a year earlier, according to data from Benzinga Pro.

On May 29, the company reported first-quarter earnings per share of 67 cents, beating the street view of 64 cents.

Advance Auto Parts shares rose 1.8% to close at $61.92 on Wednesday.

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.

• JP Morgan analyst Christopher Horvers maintained a Neutral rating and cut the price target from $68 to $55 on Aug. 16. This analyst has an accuracy rate of 73%.
• Wedbush analyst Laura Champine reiterated a Neutral rating with a price target of $65 on Aug. 9. This analyst has an accuracy rate of 69%.
• Evercore ISI Group analyst Greg Melich maintained an In-Line rating and cut the price target from $70 to $68 on July 16. This analyst has an accuracy rate of 76%.
• B of A Securities analyst Elizabeth Suzuki maintained an Underperform rating and boosted the price target from $51 to $55 on May 30. This analyst gas an accuracy rate of 62%.
• UBS analyst Michael Lasser maintained a Neutral rating and cut the price target from $72 to $70 on May 30. This analyst has an accuracy rate of 78%.

Considering buying AAP stock? Here’s what analysts think:

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Posted In: AAP