Deutsche Bank Cuts Advance Auto Parts (AAP) to Hold

Deutsche Bank downgraded shares of Advance Auto Parts (NYSE: AAP) from Buy to Hold Thursday morning following the company's Q1 miss earlier. Advance Auto shares are down nearly 16 percent at last check.

The firm cited market "share loss even in the face of what appears to be improving industry data. As comparisons become more difficult, we’d expect trends to remain challenged. So, it looks like the share gain story in commercial as well as the improvements in DIY, which both occurred last quarter, have stopped."

For an analyst ratings summary and ratings history on Advance Auto Parts click here. For more ratings news on Advance Auto Parts click here.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• BofA sees Micron EPS topping $230 by FY30, calls peak fears overblown
• L3Harris CEO steps down amid conduct review, shares drop
• BofA Securities Reiterates Buy Rating on Micron Technology (MU); Sees $230+ in EPS by FY30