Stock Analysts’ price target changes for Thursday, June 1st: Advance Auto Parts (NYSE:AAP) had its target price cut by Barclays PLC from $129.00 to $69.00. Advance Auto Parts (NYSE:AAP) had its target price trimmed by Citigroup Inc. from $126.00 to $76.00. Advance Auto Parts (NYSE:AAP) had its target price reduced by Morgan Stanley from $130.00 […]
The auto parts supplier blamed its Q1 results on higher-than-expected costs, inflationary pressure, supply chain problems and lower, unfavorable product mix.
Advance Auto Parts Inc lowered its full-year profit outlook on Wednesday on the back of elevated costs, sending the auto parts retailer's shares down 24 per cent before the opening bell.High raw material, labor and freight prices, along with the ongoing supply chain constraints, have weighed down the auto