Advance Auto Parts slumps on weaker annual sales forecast - AAP News | RalliesAdvance Auto Parts slumps on weaker annual sales forecast
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AAP• Shares fall after weaker outlook
- Shares of automotive parts retailer Advance Auto Parts AAP.N fell more than 14% to $47.79 in premarket trading.
- AAP forecast FY sales between $8.49 billion and $8.58 billion, with the midpoint below analysts' estimate of $8.58 billion — data compiled by LSEG.
- Q2 sales were $2 billion versus an estimate of $2.04 billion.
- The average brokerage rating on the stock is "hold"; the median price target is $60 — LSEG data.
- Up to the last close, shares were up 42.9% year to date.
