Is Advance Auto Parts a Buy After its Earnings Crash?

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ValueWalk

Advanced Auto Parts is down over 15% after delivering poor results on its bottom line.Analysts have been quick to downgrade AAP stock on concerns about demand in a weakening economy.The company is making investments in its supply chain to ensure that this quarter is an outlier to what has been a bullish story.Investors should wait for more clarity before taking a position in AAP stock.Advance Auto Parts (NYSE:AAP) is down more than 15% after missing badly on the bottom line in its third-quarter earnings report. The company’s revenue of $2.64 billion came in roughly in-line with expectations. B…

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