Brokerages predict that Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) will announce $3.53 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Advance Auto Parts’ earnings. The highest EPS estimate is $4.01 and the lowest is $2.61. Advance Auto Parts reported earnings of $3.34 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The firm is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Advance Auto Parts will report full-year earnings of $13.78 per share for the current fiscal year, with EPS estimates ranging from $13.50 to $14.10. For the next fiscal year, analysts anticipate that the firm will post earnings of $15.80 per share, with EPS estimates ranging from $14.79 to $16.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Advance Auto Parts.
Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings data on Monday, February 14th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the company earned $1.87 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis.
A number of research analysts have weighed in on AAP shares. Wells Fargo & Company cut their price objective on shares of Advance Auto Parts from $255.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 15th. Royal Bank of Canada started 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 objective for the company. Citigroup lifted their target price on shares of Advance Auto Parts from $290.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, February 16th. Truist Financial started coverage on shares of Advance Auto Parts in a research report on Thursday, January 13th. They issued a “buy” rating and a $273.00 target price on the stock. Finally, Evercore ISI started coverage on shares of Advance Auto Parts in a research report on Tuesday, February 15th. They issued a “buy” rating and a $275.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $256.65.
AAP opened at $220.97 on Friday. Advance Auto Parts has a fifty-two week low of $184.05 and a fifty-two week high of $244.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 1.21. The company has a fifty day moving average of $213.13 and a two-hundred day moving average of $223.58. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.29 and a beta of 1.29.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 18th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, March 17th. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $1.00. This represents a $6.00 dividend on an annualized basis and a yield of 2.72%. Advance Auto Parts’s payout ratio is presently 62.96%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Life Planning Partners Inc acquired a new position in Advance Auto Parts in the 4th quarter valued at about $30,000. Arkadios Wealth Advisors boosted its holdings in Advance Auto Parts by 479.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 168 shares of the company’s stock valued at $35,000 after purchasing an additional 139 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Advance Auto Parts by 423.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $39,000 after purchasing an additional 216 shares during the last quarter. Tobam boosted its holdings in Advance Auto Parts by 466.7% in the 3rd quarter. Tobam now owns 238 shares of the company’s stock valued at $50,000 after purchasing an additional 196 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Advance Auto Parts by 23.9% in the 3rd quarter. Geneos Wealth Management Inc. now owns 259 shares of the company’s stock valued at $53,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.
Advance Auto Parts Company Profile (Get Rating)
Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company 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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