Wedbush Weighs in on Advance Auto Parts, Inc.’s Q4 2017 Earnings (AAP)

Advance Auto Parts, Inc. (NYSE:AAP) – Equities research analysts at Wedbush lifted their Q4 2017 earnings estimates for shares of Advance Auto Parts in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Wedbush analyst S. Basham now forecasts that the company will earn $0.65 per share for the quarter, up from their previous forecast of $0.60. Wedbush also issued estimates for Advance Auto Parts’ FY2018 earnings at $6.03 EPS and FY2019 earnings at $7.14 EPS.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.18. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 earnings per share.

AAP has been the subject of a number of other research reports. BTIG Research reissued a “sell” rating and issued a $75.00 price objective (down previously from $90.00) on shares of Advance Auto Parts in a research report on Wednesday, October 25th. Zacks Investment Research raised shares of Advance Auto Parts from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Citigroup lowered shares of Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, October 4th. Morgan Stanley reissued an “overweight” rating on shares of Advance Auto Parts in a research report on Wednesday, November 15th. Finally, Jefferies Group cut their price objective on shares of Advance Auto Parts from $130.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $106.32.

Advance Auto Parts (NYSE:AAP) traded up $2.36 during trading hours on Thursday, hitting $112.95. 1,015,900 shares of the stock were exchanged, compared to its average volume of 1,611,000. The company has a current ratio of 1.52, a quick ratio of 0.32 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $8,350.00, a price-to-earnings ratio of 23.68, a PEG ratio of 1.77 and a beta of 1.00. Advance Auto Parts has a twelve month low of $78.81 and a twelve month high of $177.50.

Institutional investors have recently added to or reduced their stakes in the stock. QS Investors LLC grew its holdings in Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after purchasing an additional 9 shares during the period. Federated Investors Inc. PA grew its holdings in Advance Auto Parts by 763.0% in the second quarter. Federated Investors Inc. PA now owns 1,398 shares of the company’s stock valued at $163,000 after purchasing an additional 1,236 shares during the period. Fiduciary Trust Co. purchased a new stake in Advance Auto Parts in the second quarter valued at approximately $177,000. Oppenheimer Asset Management Inc. grew its holdings in Advance Auto Parts by 4.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,582 shares of the company’s stock valued at $184,000 after purchasing an additional 68 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Advance Auto Parts by 7.6% in the second quarter. Pacer Advisors Inc. now owns 1,633 shares of the company’s stock valued at $190,000 after purchasing an additional 116 shares during the period.

The business also recently announced a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 22nd were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Advance Auto Parts’s payout ratio is 5.03%.

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About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

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Earnings History and Estimates for Advance Auto Parts (NYSE:AAP)

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