Advance Auto Parts Posts Disappointing Q2 Comp on High Exposure to Lower-End Customers

Advance Auto Parts Inc (NYSE: AAP) Thursday reported mixed second-quarter results Here are the key analyst takeaways: RBC Capital Markets analyst Steven Shemesh reiterated a Sector Perform rating, while trimming the price target from $67 to $52. DA Davidson analyst Michael Baker maintained a Neutral rating, while slashing the price target from $58 to $48. Guggenheim Securities analyst Steven Forbes reaffirmed a Neutral rating on the stock. RBC Capital Markets: Advance Auto Parts posted disappointing results, with a comp miss and lower-than-anticipated profits excluding tariff refunds, Shemesh said in a note. Although adjusted operating margin expanded by 260 basis points (bps) year-on-year to 5.6% and came in better than consensu...