Analysts expect Advance Auto Parts, Inc. (NYSE:AAP) to post $2.08 earnings per share for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Advance Auto Parts’ earnings. The highest EPS estimate is $2.18 and the lowest is $1.98. Advance Auto Parts posted earnings per share of $1.89 during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The company is scheduled to announce its next earnings results on Tuesday, November 12th.
According to Zacks, analysts expect that Advance Auto Parts will report full-year earnings of $7.96 per share for the current fiscal year, with EPS estimates ranging from $7.79 to $8.30. For the next financial year, analysts forecast that the firm will report earnings of $8.98 per share, with EPS estimates ranging from $8.19 to $9.90. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.00 EPS for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.22). The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.36 billion. Advance Auto Parts had a net margin of 4.52% and a return on equity of 15.16%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.97 EPS.
A number of research firms have commented on AAP. Morgan Stanley set a $185.00 price objective on shares of Advance Auto Parts and gave the company a “buy” rating in a report on Tuesday, September 10th. Guggenheim downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a report on Wednesday, August 14th. Raymond James began coverage on shares of Advance Auto Parts in a report on Monday, October 7th. They issued a “market perform” rating for the company. Northcoast Research reiterated a “neutral” rating on shares of Advance Auto Parts in a report on Thursday, June 27th. Finally, Credit Suisse Group cut their price objective on shares of Advance Auto Parts from $195.00 to $162.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $181.88.
AAP stock opened at $163.50 on Friday. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.78 and a beta of 0.87. The company has a current ratio of 1.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.76. Advance Auto Parts has a 12 month low of $130.09 and a 12 month high of $186.15. The firm has a 50-day moving average of $154.91 and a two-hundred day moving average of $156.63.
The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 20th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.15%. Advance Auto Parts’s dividend payout ratio is currently 3.37%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Doyle Wealth Management acquired a new stake in shares of Advance Auto Parts during the 2nd quarter worth approximately $31,000. Berman Capital Advisors LLC boosted its position in shares of Advance Auto Parts by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock worth $33,000 after purchasing an additional 140 shares during the period. Citizens Financial Group Inc RI boosted its position in shares of Advance Auto Parts by 466.7% during the 2nd quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock worth $34,000 after purchasing an additional 182 shares during the period. Avestar Capital LLC boosted its position in shares of Advance Auto Parts by 625.0% during the 2nd quarter. Avestar Capital LLC now owns 406 shares of the company’s stock worth $42,000 after purchasing an additional 350 shares during the period. Finally, CSat Investment Advisory L.P. boosted its position in shares of Advance Auto Parts by 66.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 292 shares of the company’s stock worth $45,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.
About Advance Auto Parts
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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