Advance Auto Parts Inc. (NYSE:AAP) – Gabelli reduced their FY2016 earnings per share estimates for Advance Auto Parts in a research note issued on Tuesday. Gabelli analyst C. Jolly now expects that the firm will post earnings of $7.10 per share for the year, down from their prior forecast of $7.45. Gabelli also issued estimates for Advance Auto Parts’ FY2017 earnings at $7.70 EPS and FY2019 earnings at $9.80 EPS.

A number of other research analysts also recently issued reports on AAP. Royal Bank Of Canada upped their target price on Advance Auto Parts from $174.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday. Robert W. Baird reiterated a “neutral” rating and set a $175.00 price target (up from $165.00) on shares of Advance Auto Parts in a research report on Wednesday. Deutsche Bank AG boosted their price target on Advance Auto Parts from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price target on shares of Advance Auto Parts in a research report on Thursday, August 18th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $174.00 price target (down from $180.00) on shares of Advance Auto Parts in a research report on Thursday, September 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $166.25.

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

Shares of Advance Auto Parts (NYSE:AAP) opened at 166.32 on Wednesday. The firm’s 50-day moving average is $144.72 and its 200-day moving average is $153.88. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 26.86 and a beta of 1.04. Advance Auto Parts has a one year low of $131.59 and a one year high of $172.87.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Monday, November 14th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.02. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. 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 business’s revenue for the quarter was down 2.0% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 23rd will be issued a $0.06 dividend. The ex-dividend date is Wednesday, December 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.14%. Advance Auto Parts’s dividend payout ratio is currently 3.94%.

In other Advance Auto Parts news, CEO Thomas Greco acquired 6,250 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was acquired at an average price of $159.56 per share, with a total value of $997,250.00. Following the completion of the transaction, the chief executive officer now directly owns 42,154 shares in the company, valued at $6,726,092.24. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Francis Ferraro acquired 500 shares of the stock in a transaction dated Monday, August 22nd. The stock was acquired at an average cost of $160.28 per share, with a total value of $80,140.00. Following the transaction, the director now owns 2,941 shares of the company’s stock, valued at $471,383.48. The disclosure for this purchase can be found here. 4.50% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Kennedy Capital Management Inc. boosted 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. National Pension Service boosted 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. Jericho Capital Asset Management L.P. bought a new position in shares of Advance Auto Parts during the first quarter worth approximately $20,684,000. Avalon Advisors LLC boosted its position in shares of Advance Auto Parts by 95.5% in the first quarter. Avalon Advisors LLC now owns 9,085 shares of the company’s stock worth $1,457,000 after buying an additional 4,439 shares in the last quarter. Finally, Cullinan Associates Inc. boosted its position in shares of Advance Auto Parts by 56.4% in the first quarter. Cullinan Associates Inc. now owns 20,250 shares of the company’s stock worth $3,247,000 after buying an additional 7,300 shares in the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

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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