Advance Auto Parts Announces Sale of Worldpac to Carlyle for $1.5 Billion

Advance Auto Parts (AAP) PT Lowered to $85 at Jefferies

Jefferies analyst Bret Jordan lowered the price target on Advance Auto Parts (NYSE: AAP) to $85.00 (from $100.00) while maintaining a Buy rating.

The analyst comments "Q2 comp was +0.4% & EPS $0.75 vs cons -0.5% & $0.93 as price investments & labor spend pressured EBIT -200 bps y/y to... More

Advance Auto Parts (AAP) PT Lowered to $50 at Wells Fargo

Wells Fargo analyst Zachary Fadem lowered the price target on Advance Auto Parts (NYSE: AAP) to $50.00 (from $60.00) while maintaining a Equal Weight rating.

The analyst comments "FY24 guidance lowered, but still includes Worldpac (for now). AAP's lowered FY24 outlook includes: 1) Comps of... More

Advance Auto Parts (AAP) PT Lowered to $55 at CFRA

CFRA analyst Garrett Nelson lowered the price target on Advance Auto Parts (NYSE: AAP) to $55.00 (from $70.00) while maintaining a Hold rating.

The analyst comments "We lower our 12-month price by $15 to $55, based on a '25 P/E of 15.1x, a... More

Citi Reiterates Neutral Rating on Advance Auto Parts (AAP)

Citi analyst Steven Zaccone reiterated a Neutral rating and $64.00 price target on Advance Auto Parts (NYSE: AAP).

The analyst comments "AAPs 2Q results included a plethora of details which will be clarified on the 8AM ET conference call (i) the most... More

Advanced Auto Parts shares jump as Carlyle agrees to buy its Worldpac unit

Carlyle Group Inc. is acquiring Worldpac, a unit of Advance Auto Parts (NYSE: AAP) for $1.5 billion, the companies announced Thursday.

AAP shares jumped 5% in premarket trading.

Advance Auto Parts has faced pressure from shareholder activists to sell Worldpac in order to boost compensation and better compete with AutoZone Inc. and OReilly Automotive Inc. In November, Advance Auto Parts announced its intention to sell Worldpac,... More