Advance Auto Parts, Inc. (NYSE:AAP) – Investment analysts at Oppenheimer increased their Q1 2019 EPS estimates for shares of Advance Auto Parts in a report released on Tuesday, February 19th. Oppenheimer analyst B. Nagel now forecasts that the company will post earnings of $2.31 per share for the quarter, up from their prior estimate of $2.30. Oppenheimer also issued estimates for Advance Auto Parts’ Q2 2019 earnings at $2.14 EPS, Q3 2019 earnings at $2.18 EPS, Q4 2019 earnings at $1.31 EPS and FY2019 earnings at $7.98 EPS.
A number of other equities analysts have also commented on the stock. Barclays upgraded shares of Advance Auto Parts from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $170.00 to $205.00 in a research report on Monday, January 7th. Bank of America upgraded shares of Advance Auto Parts from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 9th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Wedbush boosted their price target on shares of Advance Auto Parts from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, October 26th. Finally, Morgan Stanley boosted their price target on shares of Advance Auto Parts from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, November 6th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Advance Auto Parts currently has an average rating of “Buy” and a consensus target price of $184.28.
NYSE:AAP opened at $161.31 on Thursday. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.51 and a beta of 1.04. Advance Auto Parts has a 12 month low of $102.15 and a 12 month high of $186.15. The company has a current ratio of 1.57, a quick ratio of 0.49 and a debt-to-equity ratio of 0.29.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, February 19th. The company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.03. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 22nd will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, March 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.15%. Advance Auto Parts’s payout ratio is 3.37%.
Several hedge funds have recently made changes to their positions in the company. HRT Financial LLC bought a new stake in shares of Advance Auto Parts during the fourth quarter worth approximately $656,000. Millennium Management LLC raised its stake in shares of Advance Auto Parts by 33.9% during the fourth quarter. Millennium Management LLC now owns 1,133,535 shares of the company’s stock worth $178,486,000 after buying an additional 286,679 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Advance Auto Parts by 48.1% during the fourth quarter. Macquarie Group Ltd. now owns 27,729 shares of the company’s stock worth $4,366,000 after buying an additional 9,000 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Advance Auto Parts during the fourth quarter worth approximately $243,000. Finally, Legal & General Group Plc raised its stake in shares of Advance Auto Parts by 13.0% during the fourth quarter. Legal & General Group Plc now owns 426,576 shares of the company’s stock worth $67,148,000 after buying an additional 49,153 shares during the last quarter. Institutional investors own 94.51% of the company’s stock.
Advance Auto Parts Company Profile
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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