Barclays Cut Price Target and Estimate on Advance Auto Parts (AAP); Company-Specific Issues

Barclays maintains an 'Equalweight' on Advance Auto Parts (NYSE: AAP) price target lowered from $95 to $78.

Analyst, Alan M. Rifkin, said, "1Q EPS of $1.79 represents a 32.5% increase from $1.35 last year, but missed our expectations of $1.85. Comps increased 2.1%, versus a 1.4% compare last year and below our 5% estimate...We are lowering our 2012 EPS estimate to $5.90 from $6.05, based on 1% comps, our 2013 EPS estimate to $6.70 from $6.90, based on 3% comps, and our 2014 EPS estimate to $7.70 from $7.90, based on 3% comps."

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

Shares of Advance Auto Parts closed at $68.17 yesterday.

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