Advance Auto Parts Inc. (NYSE:AAP) – Equities research analysts at Gabelli cut their FY2018 earnings per share estimates for shares of Advance Auto Parts in a report released on Tuesday. Gabelli analyst C. Jolly now anticipates that the brokerage will post earnings per share of $8.75 for the year, down from their prior estimate of $9.10. Gabelli also issued estimates for Advance Auto Parts’ FY2020 earnings at $11.35 EPS.

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

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

A number of other equities research analysts have also recently commented on AAP. Deutsche Bank AG raised their price objective on Advance Auto Parts from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Wedbush reissued an “outperform” rating and issued a $175.00 price objective (up previously from $160.00) on shares of Advance Auto Parts in a research note on Wednesday, August 17th. Citigroup Inc. raised their price objective on Advance Auto Parts from $145.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, August 17th. BTIG Research reissued a “sell” rating and issued a $120.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, August 17th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $171.00 price objective (up previously from $155.00) on shares of Advance Auto Parts in a research note on Thursday, August 18th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $166.25.

Advance Auto Parts (NYSE:AAP) traded up 2.32% during midday trading on Thursday, reaching $166.76. The company had a trading volume of 1,071,246 shares. The stock’s 50 day moving average is $144.72 and its 200 day moving average is $153.88. Advance Auto Parts has a 12-month low of $131.59 and a 12-month high of $172.87. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 26.93 and a beta of 1.04.

A number of institutional investors have recently made changes to their positions in AAP. Kirr Marbach & Co. LLC IN acquired a new position in shares of Advance Auto Parts during the second quarter worth $10,089,000. Selway Asset Management raised its position in shares of Advance Auto Parts by 25.6% in the second quarter. Selway Asset Management now owns 14,475 shares of the company’s stock worth $2,340,000 after buying an additional 2,950 shares in the last quarter. General Electric Co. raised its position in shares of Advance Auto Parts by 79.5% in the second quarter. General Electric Co. now owns 335,072 shares of the company’s stock worth $54,158,000 after buying an additional 148,359 shares in the last quarter. National Pension Service raised its position in shares of Advance Auto Parts by 4.4% in the first quarter. National Pension Service now owns 46,709 shares of the company’s stock worth $7,489,000 after buying an additional 1,984 shares in the last quarter. Finally, Kennedy Capital Management Inc. raised its position in shares of Advance Auto Parts by 99.1% in the first quarter. Kennedy Capital Management Inc. now owns 19,906 shares of the company’s stock worth $3,192,000 after buying an additional 9,906 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.

In other Advance Auto Parts news, EVP Robert B. Cushing bought 1,500 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were acquired at an average cost of $156.66 per share, for a total transaction of $234,990.00. Following the purchase, the executive vice president now directly owns 6,362 shares of the company’s stock, valued at $996,670.92. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Charles E. Tyson bought 633 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was acquired at an average price of $157.75 per share, for a total transaction of $99,855.75. Following the completion of the purchase, the executive vice president now directly owns 18,397 shares in the company, valued at $2,902,126.75. The disclosure for this purchase can be found here. 4.50% of the stock is owned by company insiders.

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

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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