Shares of Advance Auto Parts Soar 19% After Topping Earnings Estimates
Shares of Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider focusing on professional and do-it-yourself customers, were up nearly 19% as of 12:07 p.m. EST Tuesday after the company topped Wall Street's profit estimates.
Advance Auto reported total net sales of $2.18 billion for the third quarter, a 3% decline from the prior year and short of analysts' estimates calling for $2.21 billion. But despite falling short on revenue estimates the auto parts retailer generated adjusted earnings of $1.43 per share, which was far better than analysts' consensus estimate of $1.20 per share.
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Source: Fool.com
Advance Auto Parts Inc. Stock
€56.88
2.130%
The community is currently still undecided about Advance Auto Parts Inc. with 0 Buy predictions and 2 Sell predictions.
A potential of -20.89%, resulting from comparing the current price of 56.88 € with the target price of 45 € for Advance Auto Parts Inc., shows the chance of incurring significant losses.
