Equities research analysts predict that Advance Auto Parts, Inc. (NYSE:AAP) will post sales of $2.94 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Advance Auto Parts’ earnings, with the lowest sales estimate coming in at $2.90 billion and the highest estimate coming in at $2.96 billion. Advance Auto Parts reported sales of $2.87 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The business is expected to announce its next earnings report before the market opens on Wednesday, May 22nd.
On average, analysts expect that Advance Auto Parts will report full year sales of $9.76 billion for the current year, with estimates ranging from $9.71 billion to $9.80 billion. For the next fiscal year, analysts anticipate that the business will post sales of $10.02 billion, with estimates ranging from $9.85 billion to $10.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, February 19th. The company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.03. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share.
A number of equities research analysts have weighed in on AAP shares. Zacks Investment Research upgraded Advance Auto Parts from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a research report on Friday, February 1st. Evercore ISI started coverage on Advance Auto Parts in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $185.00 target price for the company. Jefferies Financial Group cut their target price on Advance Auto Parts to $195.00 and set a “buy” rating for the company in a research report on Wednesday, February 20th. Royal Bank of Canada cut their target price on Advance Auto Parts to $178.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Co restated a “hold” rating and issued a $175.00 target price on shares of Advance Auto Parts in a research report on Tuesday, February 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $190.71.
Large investors have recently made changes to their positions in the company. Covenant Partners LLC acquired a new stake in Advance Auto Parts during the 1st quarter valued at $207,000. CWM Advisors LLC increased its stake in shares of Advance Auto Parts by 57.7% in the first quarter. CWM Advisors LLC now owns 3,151 shares of the company’s stock worth $537,000 after acquiring an additional 1,153 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Advance Auto Parts by 15.3% in the first quarter. HighTower Advisors LLC now owns 5,367 shares of the company’s stock worth $917,000 after acquiring an additional 712 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new position in shares of Advance Auto Parts in the first quarter worth $245,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Advance Auto Parts by 3.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,562 shares of the company’s stock worth $608,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 99.29% of the company’s stock.
Shares of AAP stock traded up $1.80 on Monday, hitting $157.63. The stock had a trading volume of 58,492 shares, compared to its average volume of 1,155,508. The company has a market cap of $11.12 billion, a P/E ratio of 22.15, a P/E/G ratio of 1.49 and a beta of 0.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.44. Advance Auto Parts has a 12-month low of $113.61 and a 12-month high of $186.15.
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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