Analysts forecast that Advance Auto Parts (NYSE:AAP) will announce earnings of $1.98 per share for the current quarter, Zacks reports. Nine analysts have issued estimates for Advance Auto Parts’ earnings, with the lowest EPS estimate coming in at $1.91 and the highest estimate coming in at $2.06. Advance Auto Parts reported earnings per share of $1.60 during the same quarter last year, which would suggest a positive year over year growth rate of 23.8%. The business is scheduled to report its next quarterly earnings results on Wednesday, May 23rd.
According to Zacks, analysts expect that Advance Auto Parts will report full year earnings of $6.70 per share for the current fiscal year, with EPS estimates ranging from $6.44 to $7.08. For the next fiscal year, analysts forecast that the business will post earnings of $7.57 per share, with EPS estimates ranging from $6.76 to $9.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.12. Advance Auto Parts had a return on equity of 12.45% and a net margin of 5.07%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business earned $1.00 earnings per share. Advance Auto Parts’s revenue was down 2.2% on a year-over-year basis.
A number of research analysts recently commented on AAP shares. Stephens restated a “hold” rating and issued a $113.00 price target (up previously from $58.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Zacks Investment Research upgraded Advance Auto Parts from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Tuesday, January 16th. JPMorgan Chase raised their price objective on Advance Auto Parts from $110.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Robert W. Baird reaffirmed a “neutral” rating and issued a $125.00 price objective (up from $100.00) on shares of Advance Auto Parts in a research note on Thursday, February 22nd. Finally, Credit Suisse Group raised their price objective on Advance Auto Parts from $100.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $112.98.
Shares of NYSE AAP traded up $0.89 during mid-day trading on Wednesday, reaching $107.82. The company had a trading volume of 1,031,221 shares, compared to its average volume of 1,309,423. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.36 and a current ratio of 1.56. Advance Auto Parts has a one year low of $78.81 and a one year high of $151.72. The stock has a market capitalization of $7,806.17, a P/E ratio of 20.08, a PEG ratio of 1.27 and a beta of 1.04.
The company also recently declared a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Friday, March 23rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Thursday, March 22nd. Advance Auto Parts’s payout ratio is 4.47%.
In other news, insider Thomas Greco purchased 8,640 shares of the business’s stock in a transaction dated Wednesday, March 21st. The shares were purchased at an average cost of $115.77 per share, with a total value of $1,000,252.80. Following the completion of the purchase, the insider now owns 135,081 shares of the company’s stock, valued at approximately $15,638,327.37. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Brouillard sold 1,745 shares of Advance Auto Parts stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $116.08, for a total value of $202,559.60. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB lifted its stake in shares of Advance Auto Parts by 6.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 13,546 shares of the company’s stock worth $1,350,000 after acquiring an additional 774 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Advance Auto Parts by 19.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,912 shares of the company’s stock worth $3,480,000 after acquiring an additional 5,722 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in shares of Advance Auto Parts in the fourth quarter worth approximately $2,116,000. We Are One Seven LLC acquired a new position in shares of Advance Auto Parts in the fourth quarter worth approximately $820,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Advance Auto Parts by 55.6% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,200 shares of the company’s stock worth $419,000 after acquiring an additional 1,500 shares during the period.
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About Advance Auto Parts
Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.
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