Advance Auto Parts Inc. (NYSE:AAP) – Investment analysts at Northcoast Research lowered their Q4 2016 earnings per share estimates for shares of Advance Auto Parts in a research report issued to clients and investors on Wednesday. Northcoast Research analyst N. Mitchell now forecasts that the firm will post earnings per share of $1.05 for the quarter, down from their prior forecast of $1.10. Northcoast Research also issued estimates for Advance Auto Parts’ Q4 2017 earnings at $1.20 EPS.

Several other equities research analysts also recently weighed in on AAP. Deutsche Bank AG upped their price target on Advance Auto Parts from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Advance Auto Parts in a report on Thursday, August 18th. RBC Capital Markets reiterated an “outperform” rating and issued a $174.00 price objective (down previously from $180.00) on shares of Advance Auto Parts in a report on Thursday, September 8th. Jefferies Group reiterated a “hold” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Advance Auto Parts in a report on Friday. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Advance Auto Parts in a report on Wednesday. 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 issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $166.81.

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

Advance Auto Parts (NYSE:AAP) opened at 162.57 on Friday. Advance Auto Parts has a one year low of $131.59 and a one year high of $172.87. The firm has a market capitalization of $11.97 billion, a P/E ratio of 26.64 and a beta of 1.04. The firm has a 50-day moving average price of $144.17 and a 200-day moving average price of $153.92.

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

A number of institutional investors have recently modified their holdings of AAP. Van ECK Associates Corp boosted its position in shares of Advance Auto Parts by 31.9% in the second quarter. Van ECK Associates Corp now owns 637 shares of the company’s stock valued at $103,000 after buying an additional 154 shares in the last quarter. Kanaly Trust Co increased its position in Advance Auto Parts by 65.5% in the second quarter. Kanaly Trust Co now owns 720 shares of the company’s stock valued at $116,000 after buying an additional 285 shares during the last quarter. Global X Management Co. LLC increased its position in Advance Auto Parts by 92.3% in the second quarter. Global X Management Co. LLC now owns 723 shares of the company’s stock valued at $117,000 after buying an additional 347 shares during the last quarter. Cornerstone Advisors Inc. increased its position in Advance Auto Parts by 7,181.8% in the third quarter. Cornerstone Advisors Inc. now owns 801 shares of the company’s stock valued at $119,000 after buying an additional 790 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its position in Advance Auto Parts by 4.0% in the second quarter. Checchi Capital Advisers LLC now owns 751 shares of the company’s stock valued at $121,000 after buying an additional 29 shares during the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 23rd will be issued a dividend of $0.06 per share. 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 is presently 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.

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