Research Analysts Issue Forecasts for Advance Auto Parts, Inc.’s FY2017 Earnings (AAP)
Advance Auto Parts, Inc. (NYSE:AAP) – Stock analysts at Gabelli dropped their FY2017 earnings per share estimates for shares of Advance Auto Parts in a research report issued to clients and investors on Thursday. Gabelli analyst C. Jolly now anticipates that the company will earn $6.30 per share for the year, down from their prior estimate of $7.35. Gabelli currently has a “Buy” rating on the stock. Gabelli also issued estimates for Advance Auto Parts’ FY2018 earnings at $7.30 EPS, FY2019 earnings at $8.45 EPS, FY2020 earnings at $9.90 EPS and FY2021 earnings at $11.15 EPS.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, May 24th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by $0.60. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.51 earnings per share.
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Other analysts have also recently issued reports about the company. Deutsche Bank AG dropped their price target on Advance Auto Parts from $192.00 to $164.00 and set a “buy” rating for the company in a research report on Thursday. TheStreet cut Advance Auto Parts from a “b” rating to a “c+” rating in a research report on Monday, March 27th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Advance Auto Parts in a research report on Wednesday, May 24th. Bank of America Corp dropped their price target on Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Citigroup Inc dropped their price target on Advance Auto Parts from $177.00 to $168.00 and set a “neutral” rating for the company in a research report on Tuesday, April 25th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $164.32.
Advance Auto Parts (NYSE:AAP) opened at 134.16 on Monday. The stock’s 50 day moving average price is $143.46 and its 200-day moving average price is $157.51. Advance Auto Parts has a 52-week low of $129.40 and a 52-week high of $177.83. The company has a market capitalization of $9.90 billion, a P/E ratio of 24.30 and a beta of 1.10.
Several institutional investors have recently made changes to their positions in the stock. ING Groep NV raised its position in shares of Advance Auto Parts by 31.3% in the fourth quarter. ING Groep NV now owns 6,135 shares of the company’s stock valued at $1,045,000 after buying an additional 1,463 shares during the period. Capital International Investors acquired a new position in shares of Advance Auto Parts during the third quarter valued at approximately $37,712,000. Clinton Group Inc. raised its position in shares of Advance Auto Parts by 1,372.1% in the third quarter. Clinton Group Inc. now owns 20,344 shares of the company’s stock valued at $3,034,000 after buying an additional 18,962 shares during the period. Advantus Capital Management Inc raised its position in shares of Advance Auto Parts by 1.4% in the third quarter. Advantus Capital Management Inc now owns 7,389 shares of the company’s stock valued at $1,102,000 after buying an additional 100 shares during the period. Finally, Arrowgrass Capital Partners LLP acquired a new position in shares of Advance Auto Parts during the third quarter valued at approximately $4,996,000. 98.67% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Charles E. Tyson sold 18,944 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $153.46, for a total value of $2,907,146.24. Following the transaction, the executive vice president now owns 21,948 shares of the company’s stock, valued at approximately $3,368,140.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Greco purchased 6,500 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was acquired at an average cost of $154.29 per share, for a total transaction of $1,002,885.00. Following the purchase, the insider now owns 107,936 shares in the company, valued at $16,653,445.44. The disclosure for this purchase can be found here. Corporate insiders own 4.50% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 23rd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio (DPR) 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 (Professional) and do-it-yourself (DIY), customers. 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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