Advance Auto Parts (AAP) Enters Amendment to Credit Agreement
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February 29, 2024 5:47 AM EST
RBC Capital analyst Steven Shemesh raised the price target on Advance Auto Parts (NYSE: AAP) to $68.00 (from $47.00) while maintaining a Sector Perform rating.
The analyst comments "New management seems to have a good handle on the necessary steps to regain share and improve... More
February 28, 2024 8:32 AM EST
Advance Auto Parts (NYSE: AAP) reported a challenging fourth quarter for fiscal year 2023, with a notable decline in earnings per share (EPS) but a slight revenue beat compared to analyst expectations. The company's Q4 EPS came in at a loss of -$0.59, significantly underperforming the analyst estimate of $0.21. However, revenue for the quarter reached $2.5 billion, exceeding the consensus estimate of $2.46 billion. AAP shares have risen 3.5%.
The automotive parts retailer's net sales for the fourth quarter saw a marginal decrease of 0.4% compared to the same... More
