Advance Auto Parts, Inc. (NYSE:AAP) shares took a hit as a firm lowered its rating on the stock.

Raymond James analysts covering the stock reduced its rating to a “market perform,” with analyst Dan Wewer saying the company should no longer be considered a “strong buy” due to the long-term earnings potential for the company when compared to the growing business risks within Advance Auto Parts.

Wewer added that it is unlikely that AAP will reign in a financial buyer due to the mounting debt that the company is responsible for, which could cause its investment grade rating to decline. However, he said that non-traditional strategic buyers such as Icahn Enterprises LP (NASDAQ:IEP) or Amazon.com, Inc. (NASDAQ:AMZN) could take a look at the stock at the company.

Out of the 27 brokerages covering the stock, 13 give it a “buy” or higher, 11 have rated Advance Auto Parts a “hold” and one gives it a “sell.” The company’s median price target is $100.

Advance Auto Parts last unveiled its quarterly earnings results Tuesday, August 15, posting earnings of $1.58 per share, below Wall Street’s projections of $1.65 per share, according to Thomson Reuters. In the year-ago period, the company earned $1.90 per share.

The company also unveiled revenue of $2.26 billion for the quarter, which was in line with analyst estimates of $2.26 billion, but up 3% year-over-year.. Advance Auto Parts had a return on equity of 14.71%, as well as a a net margin of 3.91%.

AAP stock fell 3.7% Wednesday.