Advance Auto Parts Inc (AAP) is trading -9% lower at $180.475 today. The Consumer Discretionary sector is having a generally green day, this hasn't really affected the stock's share price, as it wavering behind other names in the space.
- Decline in comparable store sales due primarily to a drop in DIY demand
- Warned that it expects high inflation and higher fuel prices to pressure DIY sales in the back half of the year
- CFRA Research lowered its rating on Advance Auto Parts (AAP) to Hold from Buy following the retailer's slight EPS miss and below-consensus guidance
CFRA analyst Garrett Nelson thinks the drop in DIY demand is likely to spook broader auto aftermarket retail.
Advance Auto Parts Inc has been trading between a 52-week high of $240.67 and a 52-week low of $164. The stock has a market cap of $10.9 Billion.
Advance Auto Parts, Inc., is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of October 3, 2020, Advance operated 4,811 stores and 168 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,269 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands.
Headlines
Advance Auto Parts Slips On Lower Q2 Profit, Cut In FY22 Outlook
RTT News 08-24-22
Advance Auto Parts slides after earnings disappoint
Seeking Alpha 08-24-22
Advance Auto Parts Stock Falls On Outlook Cut. What Analysts Are Saying.
Barron''s 08-24-22
Advance Auto Parts Stock Falls on Outlook Cut
Barron''s 08-24-22
Advance Auto Parts PT Lowered to $230 at UBS
Investing.com 08-24-22
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:sc2summerloud - 4 upvotes -
sourceboth of my ER plays tgis week so far hit, ZM puts, AAP puts. tomorrow its time for NVDA and SNOW.
Apprehensive_Bat_388 - 4 upvotes -
sourceFuck you AAP. Was about to go on Nordstrom puts. Again 50/50 and I picked the wrong choice.
Wugums - 4 upvotes -
sourceIn hindsight maybe 40% IV ATM calls on a boomer stock like AAP was a bit foolish...
Wugums - 4 upvotes -
sourceAAP fucked me. I'm gonna get a job there, climb the ladder, eventually get moved up to corporate, find the CEOs office and take a long steamy shit on his desk. It's my new 10yr goal.
Traditional-Cattle62 - 4 upvotes -
sourcehappy aap dumped used to work there for 4 years got a new dick head boss from outside the company who hated me for whatever reason got a $1 raise in that span of 4 years even though i was one of the best ones there oh well found a new job that pays more and i hardly do anything  so dump away AAP 
Wugums - 3 upvotes -
sourceHoly shit AAP sent my calls to the morgue, I never play earnings for good reason, fuck.
StatisticianFinal543 - 3 upvotes -
sourceWent all in on 210C for $AAP. Rip my portfolio at open
downonthesecond - 3 upvotes -
sourceAppreciate that AAP drop even if I lost some money.
Apprehensive_Bat_388 - 2 upvotes -
sourceVolume on aap calls lowwww
Idontwannapost - 2 upvotes -
source!banbet $aap 220 1d