APAR's stock price has dropped over 16% during trading due to concerns about disappointing third-quarter earnings. Analysts predict that operating profit will fall short of market expectations, leading to a decline in investor sentiment.
As of 11:10 a.m. on October 13, APAR shares were trading at 295,000 won, down 16.19% from the previous trading day, according to the Korea Exchange.
The stock opened at 325,000 won and fell further, reaching a low of 288,500 won at one point during the session.
APAR's stock has now declined for three consecutive trading days since October 8, when it fell by 2.64%. The following day, the drop expanded to 7%, and the stock continued to show a downward trend today.
Analysts have consistently forecast that APAR's third-quarter results will not meet market expectations.
On this day, Shinhan Investment Corp. projected that APAR's operating profit would fall about 20 billion won short of market consensus, lowering its target price to 510,000 won.
SK Securities also anticipates that profitability will be below initial estimates, adjusting its target price to 480,000 won due to increased cost burdens from a stronger won and higher shipping and commission costs associated with a growing share of online sales in Europe.
Hyundai Motor Securities similarly expects a slight decrease in sales compared to the previous quarter, citing the weaker dollar in the Americas and the absence of major events on key online channels as contributing factors. They have also revised their target price down to 510,000 won.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.