Wall Street analysts expect that Advance Auto Parts, Inc. (NYSE:AAP) will post earnings per share of $1.98 for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Advance Auto Parts’ earnings, with the highest EPS estimate coming in at $2.06 and the lowest estimate coming in at $1.91. Advance Auto Parts posted earnings of $1.60 per share in the same quarter last year, which suggests a positive year over year growth rate of 23.8%. The company is scheduled to issue its next earnings report on Wednesday, May 23rd.
According to Zacks, analysts expect that Advance Auto Parts will report full year earnings of $6.70 per share for the current financial year, with EPS estimates ranging from $6.44 to $7.08. For the next financial year, analysts anticipate that the company will post earnings of $7.57 per share, with EPS estimates ranging from $6.76 to $9.20. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.12. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year.
A number of research analysts have recently commented on the stock. Wedbush reaffirmed a “buy” rating and set a $130.00 price objective (up previously from $115.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Argus reaffirmed a “buy” rating and set a $114.00 price objective (down previously from $135.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Barclays reaffirmed an “equal weight” rating and set a $114.00 price objective (up previously from $105.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Zacks Investment Research lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Credit Suisse Group upped their price objective on shares of Advance Auto Parts from $100.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Hold” and an average target price of $112.14.
AAP stock traded down $3.96 during mid-day trading on Friday, reaching $106.61. 1,530,438 shares of the stock traded hands, compared to its average volume of 958,419. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 0.36. Advance Auto Parts has a 52 week low of $78.81 and a 52 week high of $151.72. The stock has a market capitalization of $8,179.76, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 6th. Investors of record on Friday, March 23rd were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date was Thursday, March 22nd. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.47%.
In other Advance Auto Parts news, insider Thomas Greco purchased 8,640 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was purchased at an average price of $115.77 per share, with a total value of $1,000,252.80. Following the completion of the transaction, the insider now directly owns 135,081 shares of the company’s stock, valued at approximately $15,638,327.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John C. Brouillard sold 1,745 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $116.08, for a total transaction of $202,559.60. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.
A number of large investors have recently bought and sold shares of AAP. Franklin Resources Inc. raised its position in Advance Auto Parts by 533.5% in the fourth quarter. Franklin Resources Inc. now owns 3,418,890 shares of the company’s stock worth $340,831,000 after purchasing an additional 2,879,215 shares in the last quarter. Capital International Investors increased its holdings in shares of Advance Auto Parts by 107.3% during the third quarter. Capital International Investors now owns 1,328,500 shares of the company’s stock worth $131,787,000 after buying an additional 687,700 shares in the last quarter. Arlington Value Capital LLC increased its holdings in shares of Advance Auto Parts by 1,435.9% during the fourth quarter. Arlington Value Capital LLC now owns 499,283 shares of the company’s stock worth $49,773,000 after buying an additional 466,776 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Advance Auto Parts by 48.2% during the third quarter. Neuberger Berman Group LLC now owns 1,339,056 shares of the company’s stock worth $132,834,000 after buying an additional 435,798 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth approximately $41,392,000.
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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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