👀 Copy Legendary Investors' Portfolios in One ClickCopy For Free

Advance Auto Parts EVP sells shares for $56,220

Published 2024-12-06, 04:16 p/m
AAP
-

Tammy M. Finley, Executive Vice President and General Counsel at Advance Auto Parts Inc. (NYSE:AAP), recently sold 1,276 shares of the company's common stock. The transaction, which took place on December 5, 2024, was executed at a price of $44.06 per share, amounting to a total value of $56,220. The sale comes amid challenging times for AAP, whose stock has declined over 31% in the past six months. According to InvestingPro data, the company currently trades at a relatively high P/E ratio of 61.

Following this sale, Finley retains ownership of 24,266 shares in the automotive parts retailer. This transaction was documented in a filing with the Securities and Exchange Commission, reflecting Finley's role as an officer within the company. InvestingPro analysis indicates challenging times ahead, with 18 analysts revising their earnings expectations downward. Discover more insights and detailed analysis in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, Advance Auto Parts has been the focus of several analyst adjustments following a decrease in earnings and revenue. TD (TSX:TD) Cowen maintained a hold rating on the company's shares, citing the ambitious turnaround strategy that heavily relies on the reconstruction of the supply chain. Meanwhile, Citi maintained a neutral rating but lowered the stock target from $55.00 to $44.00 due to concerns over the company's ability to expand margins. Truist Securities also reduced the company's target to $39 from $41, maintaining a hold rating, and RBC (TSX:RY) Capital raised its price target to $50, maintaining a sector perform rating. CFRA downgraded the company's stock from hold to sell.

These recent developments come in the wake of Advance Auto Parts' announcement of plans for a corporate revival, aiming for $9 billion in sales and a 7% operating margin by 2027. This includes closing over 500 underperforming stores and enhancing sourcing and merchandising efforts. Despite facing challenges such as a system outage and the impact of Hurricane Helene, the company managed to improve its gross profit to $908 million, representing 42.3% of net sales. However, analysts express skepticism about the company's ability to successfully expand margins based on previous attempts. These are the recent developments that investors need to be aware of.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.