Equities research analysts predict that Advance Auto Parts, Inc. (NYSE:AAP) will announce $2.36 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Advance Auto Parts’ earnings. The highest sales estimate is $2.40 billion and the lowest is $2.34 billion. Advance Auto Parts reported sales of $2.37 billion during the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The firm is scheduled to report its next earnings results after the market closes on Monday, February 14th.
On average, analysts expect that Advance Auto Parts will report full year sales of $10.96 billion for the current fiscal year, with estimates ranging from $10.92 billion to $11.00 billion. For the next year, analysts anticipate that the firm will post sales of $11.08 billion, with estimates ranging from $10.89 billion to $11.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Monday, November 15th. The company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.34. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.58 billion. Advance Auto Parts had a net margin of 5.89% and a return on equity of 22.79%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.81 earnings per share.
Several equities research analysts recently weighed in on AAP shares. Raymond James upped their price objective on shares of Advance Auto Parts from $265.00 to $275.00 and gave the stock a “strong-buy” rating in a report on Wednesday, November 17th. DA Davidson upped their price target on shares of Advance Auto Parts from $250.00 to $260.00 in a report on Thursday, December 30th. Royal Bank of Canada began coverage on shares of Advance Auto Parts in a report on Thursday, January 27th. They issued a “sector perform” rating and a $239.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Advance Auto Parts from $237.00 to $276.00 and gave the company an “overweight” rating in a report on Monday, October 18th. Finally, Truist Financial began coverage on shares of Advance Auto Parts in a report on Thursday, January 13th. They issued a “buy” rating and a $273.00 price target for the company. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $244.74.
Several institutional investors and hedge funds have recently modified their holdings of AAP. Bristol Gate Capital Partners Inc. acquired a new position in shares of Advance Auto Parts in the 3rd quarter valued at about $86,624,000. Nordea Investment Management AB increased its holdings in shares of Advance Auto Parts by 101.3% in the 3rd quarter. Nordea Investment Management AB now owns 303,641 shares of the company’s stock valued at $64,693,000 after purchasing an additional 152,773 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Advance Auto Parts by 11,925.5% in the 4th quarter. Qube Research & Technologies Ltd now owns 153,445 shares of the company’s stock valued at $36,808,000 after purchasing an additional 152,169 shares during the period. Assenagon Asset Management S.A. acquired a new position in Advance Auto Parts in the fourth quarter worth approximately $26,025,000. Finally, FMR LLC increased its holdings in Advance Auto Parts by 287.6% in the first quarter. FMR LLC now owns 139,025 shares of the company’s stock worth $23,708,000 after buying an additional 103,160 shares during the last quarter. Institutional investors own 98.10% of the company’s stock.
AAP stock opened at $230.20 on Wednesday. The company has a market capitalization of $14.35 billion, a P/E ratio of 23.30, a PEG ratio of 1.11 and a beta of 1.25. The company has a 50-day simple moving average of $233.56 and a 200 day simple moving average of $222.29. Advance Auto Parts has a fifty-two week low of $151.01 and a fifty-two week high of $244.55. The company has a quick ratio of 0.35, a current ratio of 1.24 and a debt-to-equity ratio of 0.32.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Friday, December 17th were issued a $1.00 dividend. The ex-dividend date was Thursday, December 16th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.74%. Advance Auto Parts’s dividend payout ratio is 40.49%.
About Advance Auto Parts
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
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