Advance Auto Parts Stock News

The company's second-quarter earnings continue a decade of underperformance. Advance Auto Parts needs to improve its operational metrics to something close to its peers.

Hold rating for Advance Auto Parts due to expected continued trading at a discount relative to peers. AAP's EBIT margin significantly lags behind competitors. Soft consumer spending and macroeconomic headwinds are expected to pressure near-term sales performance, particularly in the DIY segment.

When investors face the current volatility and uncertainty in the stock market, it might be hard to keep a cool head and stay away from the sell button. However, this is precisely when they should scour the market for better opportunities and deals.

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Back in March 2024 – at the very end of the first quarter (Q1) of 2024 – Advance Auto Parts (NYSE: AAP) appeared to be one of the best holdings in the portfolio of ‘ The Big Short ' investor Michael Burry.

Advanced Auto Parts Inc. NYSE: AAP stock fell 3.8% on August 23, the day after the company reported significantly lower profits than analysts expected in the company's second quarter 2024 earnings report. However, that was after AAP stock plummeted nearly 20% in pre-market trading after the report dropped after the market closed on August 22.

Management is struggling with its pricing initiatives and slashed its full-year guidance. The turnaround strategy is not progressing as well as board members expected.

Advance Auto Parts (AAP) shares plunged after the company announced quarterly earnings that came in well short of expectations and cut its outlook for the full year. The earnings news upstaged the sale of its wholesale distribution business.