Advance Auto Parts Inc. (NYSE:AAP) – Research analysts at Wedbush lifted their Q3 2017 earnings per share estimates for Advance Auto Parts in a research note issued on Tuesday. Wedbush analyst S. Basham now anticipates that the brokerage will post earnings per share of $1.88 for the quarter, up from their previous estimate of $1.86. Wedbush has a “Outperform” rating and a $175.00 price objective on the stock. Wedbush also issued estimates for Advance Auto Parts’ Q4 2017 earnings at $1.24 EPS.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Monday, November 14th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The firm earned $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $1.95 earnings per share.

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

AAP has been the topic of a number of other research reports. Jefferies Group restated a “hold” rating and set a $160.00 target price (up previously from $150.00) on shares of Advance Auto Parts in a report on Friday. Argus restated a “buy” rating and set a $185.00 target price on shares of Advance Auto Parts in a report on Wednesday, August 31st. Credit Suisse Group AG restated an “outperform” rating and set a $171.00 target price on shares of Advance Auto Parts in a report on Sunday, October 23rd. Morgan Stanley restated an “overweight” rating and set a $180.00 target price on shares of Advance Auto Parts in a report on Thursday, August 18th. Finally, Raymond James Financial Inc. upgraded shares of Advance Auto Parts from a “market perform” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a report on Tuesday. Three 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 has an average rating of “Hold” and an average price target of $166.81.

Advance Auto Parts (NYSE:AAP) opened at 162.57 on Thursday. The firm’s 50-day moving average is $144.17 and its 200-day moving average is $153.92. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 26.25 and a beta of 1.04. Advance Auto Parts has a 12 month low of $131.59 and a 12 month high of $172.87.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capstone Asset Management Co. increased its position in shares of Advance Auto Parts by 14.0% in the second quarter. Capstone Asset Management Co. now owns 13,348 shares of the company’s stock worth $2,157,000 after buying an additional 1,637 shares during the period. Saddle Road Partners LLC bought a new position in shares of Advance Auto Parts during the second quarter worth about $4,600,000. Creative Planning increased its position in shares of Advance Auto Parts by 0.7% in the second quarter. Creative Planning now owns 1,178 shares of the company’s stock worth $190,000 after buying an additional 8 shares during the period. Community Trust & Investment Co. increased its position in shares of Advance Auto Parts by 3.5% in the second quarter. Community Trust & Investment Co. now owns 94,320 shares of the company’s stock worth $15,245,000 after buying an additional 3,152 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Advance Auto Parts by 1.6% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 62,836 shares of the company’s stock worth $10,156,000 after buying an additional 968 shares during the period. Institutional investors own 99.42% of the company’s stock.

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

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 given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Wednesday, December 21st. Advance Auto Parts’s payout ratio is currently 3.94%.

Advance Auto Parts Company Profile

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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