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Advance Auto Parts Inc. (NYSE:AAP) announced that Jeffrey J. Jones II has informed its board of directors of his intention to retire from the board at the end of the year. According to a statement released in a regulatory filing, Jones’s departure will coincide with his planned retirement as president, chief executive officer, and director of H&R Block, Inc.
Following Jones’s retirement, the Advance Auto Parts board will consist of eight directors. The company did not disclose any plans to fill the vacated board seat.
This information is based on a statement provided in a recent SEC filing.
In other recent news, Advance Auto Parts has been the focus of several analyst updates ahead of its third-quarter earnings report. UBS has maintained a Neutral rating with a price target of $65, anticipating low-single-digit growth in same-store sales, particularly in the professional installer segment. Meanwhile, Raymond James has reiterated a Market Perform rating, highlighting the company’s need for significant margin improvements to meet its fiscal year 2025 goals. Truist Securities has raised its price target to $53, citing business stabilization and improved performance, though challenges remain for Advance Auto Parts to meet its 2027 targets.
Evercore ISI has also increased its price target to $60, noting positive momentum in the professional installer segment towards the end of the quarter. UBS has expressed confidence in the company’s ongoing transformation efforts, which are expected to yield long-term benefits. These developments come as Advance Auto Parts continues to focus on foundational changes and strategic decisions to enhance its market position. The company is expected to release its third-quarter results soon, which will provide further insight into its financial performance and future outlook.
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