Advance Auto Parts Analysts Cut Their Forecasts After Q2 Results
Advance Auto Parts Inc (AAP) reported mixed Q2 results with adjusted EPS of $1.03 beating consensus of 81c, but sales of $2.00B falling short of $2.039B estimate. FY 2016 adjusted EPS guidance raised to $2.60-$3.30 while maintaining sales outlook of $8.485B-$8.575B. Analysts lowered price targets on AAP stock.
Advance Auto Parts made more profit per share than expected, but sold less stuff than people thought it would. Even though the company raised its profit forecast, analysts became less hopeful about the stock's price, which tells us they're worried about something else.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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