Advance Auto Parts Inc. (NYSE:AAP) – Jefferies Group cut their Q4 2017 earnings per share estimates for shares of Advance Auto Parts in a research note issued to investors on Monday. Jefferies Group analyst B. Jordan now expects that the firm will post earnings of $1.22 per share for the quarter, down from their previous forecast of $1.23. Jefferies Group currently has a “Hold” rating and a $150.00 price objective on the stock. Jefferies Group also issued estimates for Advance Auto Parts’ Q1 2018 earnings at $2.87 EPS, Q2 2018 earnings at $2.33 EPS, Q3 2018 earnings at $2.17 EPS and FY2018 earnings at $8.92 EPS.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Monday, November 14th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.89%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the company posted $1.95 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year.

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

AAP has been the topic of a number of other research reports. BTIG Research reiterated a “sell” rating and issued a $120.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 19th. RBC Capital Markets reiterated an “outperform” rating and issued a $174.00 target price (down previously from $180.00) on shares of Advance Auto Parts in a report on Thursday, September 8th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $171.00 target price on shares of Advance Auto Parts in a report on Sunday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $175.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 5th. Finally, Susquehanna started coverage on Advance Auto Parts in a report on Thursday, August 25th. They issued a “neutral” rating and a $158.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $166.25.

Advance Auto Parts (NYSE:AAP) traded down 1.21% on Wednesday, hitting $162.34. 1,436,091 shares of the stock were exchanged. The company has a market cap of $11.94 billion, a P/E ratio of 26.22 and a beta of 1.04. The company’s 50 day moving average price is $144.17 and its 200-day moving average price is $153.92. Advance Auto Parts has a one year low of $131.59 and a one year high of $172.87.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 23rd will be given a $0.06 dividend. The ex-dividend date is Wednesday, December 21st. This represents a $0.24 annualized dividend and a yield of 0.15%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 3.94%.

In related news, EVP Robert B. Cushing acquired 1,500 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was purchased at an average cost of $156.66 per share, for a total transaction of $234,990.00. Following the completion of the purchase, the executive vice president now directly owns 6,362 shares of the company’s stock, valued at approximately $996,670.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John F. Bergstrom acquired 633 shares of the company’s stock in a transaction on Friday, August 19th. The shares were bought at an average price of $157.61 per share, with a total value of $99,767.13. Following the completion of the purchase, the director now directly owns 16,158 shares of the company’s stock, valued at $2,546,662.38. The disclosure for this purchase can be found here. 4.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Soroban Capital Partners LP bought a new position in Advance Auto Parts during the third quarter valued at about $90,068,000. Valinor Management L.P. bought a new position in Advance Auto Parts during the third quarter valued at about $88,564,000. Boston Partners bought a new position in Advance Auto Parts during the third quarter valued at about $82,487,000. Marshall Wace LLP raised its position in Advance Auto Parts by 119.5% in the second quarter. Marshall Wace LLP now owns 791,126 shares of the company’s stock valued at $127,870,000 after buying an additional 430,709 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in Advance Auto Parts during the third quarter valued at about $55,314,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. 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.

5 Day Chart for NYSE:AAP

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