Advance Auto Parts sinks as revenue miss and muted outlook outweigh earnings beat

Advance Auto Parts (AAP) is down 21.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The selloff appears tied to a second-quarter report that beat profit expectations but missed on revenue, suggesting investors were more concerned about underlying sales momentum than headline earnings. This could also be because the company’s updated full-year outlook did not provide enough top-line upside after a strong run in the shares earlier this year.

Details:

Second-quarter adjusted earnings were $1.03 a share, ahead of the consensus expectation of $0.81, while net income was $55 million.

Quarterly revenue was about $2.0 billion, below the roughly $2.03 billion analysts had been expecting.

Full-year guidance called for earnings of $2.60 to $3.30 per share and revenue of $8.49 billion to $8.57 billion, which looked only modestly changed on earnings and largely steady on sales.

With the stock up sharply since the start of the year before this report, the market may have been less willing to forgive a sales shortfall and cautious demand commentary.

Sources:

Associated Press, SEC, Advance Auto Parts investor relations

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$AAP Hedge Fund Activity

We have seen 193 institutional investors add shares of $AAP stock to their portfolio, and 187 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FMR LLC removed 1,271,261 shares (-98.9%) from their portfolio in Q2 2026, for an estimated $79,097,859
MAPLE ROCK CAPITAL PARTNERS INC. added 1,122,900 shares (+86.5%) to their portfolio in Q2 2026, for an estimated $69,866,838
GOLDMAN SACHS GROUP INC added 1,066,801 shares (+103.9%) to their portfolio in Q2 2026, for an estimated $66,376,358
DIMENSIONAL FUND ADVISORS LP added 935,355 shares (+44.0%) to their portfolio in Q2 2026, for an estimated $58,197,788
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 832,942 shares (+inf%) to their portfolio in Q2 2026, for an estimated $51,825,651
LEGION PARTNERS ASSET MANAGEMENT, LLC removed 800,750 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $49,822,665
AMERIPRISE FINANCIAL INC removed 735,052 shares (-51.8%) from their portfolio in Q2 2026, for an estimated $45,734,935

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$AAP Price Targets

Multiple analysts have issued price targets for $AAP recently. We have seen 9 analysts offer price targets for $AAP in the last 6 months, with a median target of $60.0.

Here are some recent targets:

David Bellinger from Mizuho set a target price of $58.0 on 05/26/2026
Simeon Gutman from Morgan Stanley set a target price of $65.0 on 05/22/2026
Kate McShane from Goldman Sachs set a target price of $54.0 on 05/22/2026
Tristan Thomas-Martin from BMO Capital set a target price of $65.0 on 05/22/2026
Zachary Fadem from Wells Fargo set a target price of $60.0 on 05/22/2026
Steven Shemesh from RBC Capital set a target price of $65.0 on 05/22/2026
Steven Zaccone from Citigroup set a target price of $60.0 on 05/22/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.