Wall Street analysts expect Advance Auto Parts, Inc. (NYSE:AAP) to report earnings per share (EPS) of $2.36 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Advance Auto Parts’ earnings, with estimates ranging from $2.26 to $2.45. Advance Auto Parts posted earnings per share of $2.10 in the same quarter last year, which indicates a positive year-over-year growth rate of 12.4%. The company is expected to issue its next earnings report on Tuesday, May 28th.
On average, analysts expect that Advance Auto Parts will report full year earnings of $8.11 per share for the current financial year, with EPS estimates ranging from $7.78 to $8.60. For the next fiscal year, analysts anticipate that the business will report earnings of $9.54 per share, with EPS estimates ranging from $8.85 to $10.12. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, February 19th. The company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.03. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue was up 3.3% on a year-over-year basis.
Several brokerages have issued reports on AAP. Citigroup decreased their price target on shares of Advance Auto Parts from $188.00 to $182.00 and set a “neutral” rating for the company in a research report on Monday, April 1st. Barclays upgraded shares of Advance Auto Parts from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $170.00 to $205.00 in a research report on Monday, January 7th. Wells Fargo & Co restated a “hold” rating and issued a $175.00 price target on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Credit Suisse Group restated a “buy” rating and issued a $195.00 price target on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Finally, Zacks Investment Research cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $187.44.
Shares of NYSE AAP opened at $175.40 on Thursday. The company has a quick ratio of 0.44, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Advance Auto Parts has a 52-week low of $102.15 and a 52-week high of $186.15. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.68 and a beta of 1.00.
The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 22nd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, March 21st. Advance Auto Parts’s dividend payout ratio is presently 3.37%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Financial Advisors Inc. bought a new position in Advance Auto Parts during the fourth quarter worth $38,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Advance Auto Parts by 38.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 329 shares of the company’s stock worth $52,000 after acquiring an additional 91 shares in the last quarter. Enlightenment Research LLC bought a new position in Advance Auto Parts during the fourth quarter worth $79,000. NINE MASTS CAPITAL Ltd bought a new position in Advance Auto Parts during the third quarter worth $164,000. Finally, Dupont Capital Management Corp boosted its stake in Advance Auto Parts by 14.9% during the fourth quarter. Dupont Capital Management Corp now owns 1,043 shares of the company’s stock worth $164,000 after acquiring an additional 135 shares in the last quarter. 99.58% of the stock is currently owned by institutional investors and hedge funds.
Advance Auto Parts Company Profile
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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