How Is Advance Auto Parts Stock Trading before Its 3Q17 Results?
Advance Auto Parts’ 3Q17 earnings
Advance Auto Parts (AAP), one of the largest US auto parts retailers measured by the number of stores, is set to release its 3Q17 earnings on November 14, 2017. Before we explore analysts’ estimates for the company’s upcoming earnings, let’s take a quick look at its recent stock price movement.
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Underperforming its peers
On November 7, 2017, Advance Auto Parts stock traded at $79.38 with a return of -20% in 4Q17 so far. In 2017 so far, AAP has witnessed a massive value erosion of ~53.1%, which was worse than the 15.7% positive return delivered by the S&P 500 benchmark (SPY) in 2017 year-to-date.
AutoZone’s weakening profit margins and investors’ low expectations from its 3Q17 earnings could be two key reasons for its stock’s decline in 4Q17.
On November 1, 2017, the US electric carmaker Tesla (TSLA) released disappointing 3Q17 earnings results. To learn more, please read Why Tesla’s 3Q17 Results Triggered a Selling Spree.
In this series, we’ll take a quick look at Wall Street analysts’ estimates for Advance Auto Parts’ 3Q17 earnings. We’ll also see analysts’ revenues and profit margin estimates for the company. At the end of the series, we’ll explore analysts’ recommendations for Advance Auto Parts’ stock before its 3Q17 earnings release.
In the next part, we’ll look at the existing trends in Advance Auto Parts’ earnings before moving on to analysts’ estimates for its 3Q17 earnings.