BTIG Cuts Low Ests on Advanced Auto (AAP) Further Following Q2 Report; Affirms at 'Sell'
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
BTIG is cutting estimates on Sell-rated Advance Auto Parts (NYSE: AAP) following Q2 results issued earlier Tuesday. The firm reiterates its $120 price target on the stock.
Analyst Alan Rifkin said,
AAP reported 2Q16 EPS of $1.90, $0.24 below our estimate of $2.14. Comp sales declined (4.1)%, slightly ahead of our (4.5)% estimate. AAP maintained its full-year comp sales guidance of (3-5)%, highlighting our view that it will take time for turnaround efforts to take hold. We are lowering our 2016 and 2017 EPS estimates significantly, which were already below-consensus, to $7.55 from $7.80 and $7.90 from $8.00, respectively. Our 2017 estimate is $0.85 below the Street, as we do not believe AAP can achieve the degree of margin expansion the Street is anticipating.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
- Crocs (CROX) PT, Estimates Trimmed at Susquehanna
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!