Why was Advance Auto Parts stock down Wednesday?

Advance Auto Parts stock was down Wednesday after the car-parts retailer reported fiscal first-quarter earnings and revenue below analysts’ estimates, while sales expectations for the year were raised. Advance Auto Parts posted first-quarter adjusted earnings of 67 cents a share on revenue of $3.4 billion.

Does Advance Auto Parts have a turnaround?

But it's apparent that the turnaround isn't done yet. The company just reported financial results for its fiscal first quarter, which ended on April 20, and they were below investor expectations. Consequently, Advance Auto Parts stock was down 6% as of 11 a.m. ET on Wednesday.

Is Advance Auto Parts (AAP) a good stock to buy?

Shares of Advance Auto Parts ( NYSE: AAP) have been a poor performer over the past year, losing about 44% of their value. On Wednesday, the stock plunged 11% in response to an underwhelming quarter, and it has now given back essentially all of its year-to-date gains.