Zacks: Brokerages Anticipate Advance Auto Parts Inc (NYSE:AAP) to Announce $1.71 Earnings Per Share
Analysts expect Advance Auto Parts Inc (NYSE:AAP) to report $1.71 earnings per share (EPS) for the current quarter, according to Zacks. Nine analysts have issued estimates for Advance Auto Parts’ earnings, with the highest EPS estimate coming in at $1.96 and the lowest estimate coming in at $1.45. Advance Auto Parts reported earnings per share of $1.90 in the same quarter last year, which indicates a negative year over year growth rate of 10%. The company is scheduled to announce its next quarterly earnings results on Tuesday, August 15th.
On average, analysts expect that Advance Auto Parts will report full-year earnings of $6.42 per share for the current fiscal year, with EPS estimates ranging from $5.85 to $6.76. For the next fiscal year, analysts expect that the business will report earnings of $7.76 per share, with EPS estimates ranging from $6.50 to $9.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by $0.60. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.51 EPS.
A number of equities research analysts have weighed in on the company. Barclays PLC restated a “sell” rating and set a $120.00 price objective on shares of Advance Auto Parts in a research note on Friday, May 26th. Royal Bank Of Canada lowered their price objective on Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating for the company in a research note on Thursday, May 25th. Bank of America Corporation lowered their price objective on Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research note on Thursday, May 25th. TheStreet lowered Advance Auto Parts from a “b” rating to a “c+” rating in a research note on Monday, March 27th. Finally, Jefferies Group LLC raised their price objective on Advance Auto Parts to $150.00 and gave the company a “hold” rating in a research note on Wednesday, June 28th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Advance Auto Parts has an average rating of “Hold” and an average target price of $152.38.
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Shares of Advance Auto Parts (NYSE AAP) traded up 2.14% during trading on Monday, hitting $103.10. The stock had a trading volume of 1,046,980 shares. The stock has a 50-day moving average of $132.91 and a 200 day moving average of $151.47. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 18.68 and a beta of 0.88. Advance Auto Parts has a 12-month low of $99.13 and a 12-month high of $177.83.
The business also recently declared a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 23rd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio (DPR) is 4.36%.
In related news, Director Brad W. Buss purchased 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were acquired at an average price of $134.47 per share, with a total value of $161,364.00. Following the acquisition, the director now owns 1,928 shares in the company, valued at approximately $259,258.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Adriana Karaboutis purchased 367 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the acquisition, the director now owns 3,043 shares in the company, valued at approximately $411,657.04. The disclosure for this purchase can be found here. In the last three months, insiders purchased 369,462 shares of company stock worth $49,617,073. Company insiders own 4.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in AAP. Patten & Patten Inc. TN bought a new stake in shares of Advance Auto Parts during the first quarter valued at about $491,000. BKD Wealth Advisors LLC bought a new stake in shares of Advance Auto Parts during the first quarter valued at about $299,000. Parametrica Management Ltd bought a new stake in shares of Advance Auto Parts during the first quarter valued at about $250,000. Legacy Private Trust Co. increased its stake in shares of Advance Auto Parts by 3.7% in the first quarter. Legacy Private Trust Co. now owns 5,215 shares of the company’s stock valued at $773,000 after buying an additional 185 shares during the period. Finally, National Pension Service increased its stake in shares of Advance Auto Parts by 16.0% in the first quarter. National Pension Service now owns 76,050 shares of the company’s stock valued at $11,306,000 after buying an additional 10,484 shares during the period.
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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