Advance Auto Parts (NYSE:AAP – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $13.30-$13.85 for the period, compared to the consensus estimate of $13.70. The company issued revenue guidance of $11.20 billion-$11.50 billion, compared to the consensus revenue estimate of $11.40 billion.
A number of research firms recently issued reports on AAP. Stephens lowered their price target on Advance Auto Parts from $246.00 to $215.00 and set an equal weight rating on the stock in a report on Wednesday, May 25th. Truist Financial lowered their price target on Advance Auto Parts from $276.00 to $238.00 and set a buy rating on the stock in a report on Wednesday, May 25th. Wells Fargo & Company lowered their price target on Advance Auto Parts from $230.00 to $200.00 and set an equal weight rating on the stock in a report on Tuesday, May 24th. JPMorgan Chase & Co. raised their price objective on shares of Advance Auto Parts from $276.00 to $280.00 in a research report on Friday, February 11th. Finally, Royal Bank of Canada reduced their price objective on shares of Advance Auto Parts from $247.00 to $217.00 in a research report on Wednesday, May 25th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $243.11.
AAP stock opened at $193.05 on Monday. The firm has a 50 day moving average of $209.22 and a 200-day moving average of $220.08. Advance Auto Parts has a 12-month low of $172.86 and a 12-month high of $244.55. The company has a current ratio of 1.20, a quick ratio of 0.25 and a debt-to-equity ratio of 0.41. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.10 and a beta of 1.22.
Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the business earned $3.34 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Advance Auto Parts will post 13.71 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of AAP. Vanguard Group Inc. increased its stake in shares of Advance Auto Parts by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after purchasing an additional 261,715 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Advance Auto Parts by 202.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 390,826 shares of the company’s stock worth $80,885,000 after purchasing an additional 261,608 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Advance Auto Parts by 3.6% during the 1st quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock worth $685,801,000 after purchasing an additional 114,789 shares in the last quarter. Invesco Ltd. increased its stake in shares of Advance Auto Parts by 10.8% during the 1st quarter. Invesco Ltd. now owns 1,018,797 shares of the company’s stock worth $210,850,000 after purchasing an additional 99,400 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in Advance Auto Parts by 603.6% in the 1st quarter. Worldquant Millennium Advisors LLC now owns 114,693 shares of the company’s stock worth $23,737,000 after acquiring an additional 98,391 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.
About Advance Auto Parts (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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