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The two activists recently picked up three board seats at the auto parts retailer.
Advance Auto Parts (AAP) reported earnings 30 days ago. What's next for the stock?
Advance Auto (AAP) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
U.S. retail stocks Walmart (NYSE: WMT ), Amazon (NYSE: AMZN ) and Target (NYSE: TGT ) are using their delivery services to keep customers coming back. A recent article from Barron's highlighted how the three companies are winning customers with superior delivery services.
Automotive aftermarket parts provider Advance Auto Parts Inc.'s (AAP) shares rose 4% in early trading on Tuesday after Dan Loeb's activist hedge fund Third Point LLC disclosed a stake and added three new directors to its board on Monday.
The board refreshment comes only six months after the company picked Shane O'Kelly, a former US Army captain who had held senior roles at Home Depot, to replace Tom Greco as chief executive.
Activist Third Point nears deal with Advance Auto Parts for three board seats
The company that will add three new directors to its board.
Advance Auto Parts delivers beneficial guidance for 2024, including a reduction in costs and optimization of financial accounting. The potential sale of Worldpac and the Canadian business may enhance the balance sheet and bring in cash. Dividend growth, along with positive market expectations, may attract investor attention.
Advance Auto (AAP) reports lower-than-expected fourth-quarter results and expects 2024 net sales in the band of $11.30-$11.40 billion, up from $11.29 billion reported in 2023.