$1.23 EPS Expected for Advance Auto Parts Inc (AAP) This Quarter
Wall Street analysts predict that Advance Auto Parts Inc (NYSE:AAP) will post earnings per share of $1.23 for the current quarter, Zacks reports. Nine analysts have provided estimates for Advance Auto Parts’ earnings, with the lowest EPS estimate coming in at $1.14 and the highest estimate coming in at $1.51. Advance Auto Parts reported earnings per share of $1.73 during the same quarter last year, which suggests a negative year-over-year growth rate of 28.9%. The firm is expected to report its next earnings report before the market opens on Tuesday, November 14th.
According to Zacks, analysts expect that Advance Auto Parts will report full year earnings of $5.16 per share for the current fiscal year, with EPS estimates ranging from $4.75 to $5.80. For the next financial year, analysts forecast that the business will report earnings of $6.15 per share, with EPS estimates ranging from $5.20 to $7.41. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.07). Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company posted $1.90 EPS. Advance Auto Parts’s quarterly revenue was up .3% on a year-over-year basis.
A number of brokerages recently commented on AAP. BTIG Research restated a “sell” rating and issued a $75.00 price objective (down previously from $90.00) on shares of Advance Auto Parts in a research report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Advance Auto Parts from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Advance Auto Parts in a research report on Wednesday, October 4th. Citigroup Inc. downgraded shares of Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, October 4th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $130.00 price objective on shares of Advance Auto Parts in a research report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. Advance Auto Parts currently has a consensus rating of “Hold” and an average target price of $117.91.
Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Advance Auto Parts by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 358,722 shares of the company’s stock worth $41,825,000 after purchasing an additional 18,209 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Advance Auto Parts by 78.0% during the 2nd quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock worth $103,155,000 after purchasing an additional 387,673 shares in the last quarter. Tobam purchased a new position in shares of Advance Auto Parts during the 2nd quarter worth approximately $118,000. Vanguard Group Inc. increased its stake in shares of Advance Auto Parts by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,966,176 shares of the company’s stock worth $812,186,000 after purchasing an additional 185,970 shares in the last quarter. Finally, ARGA Investment Management LP increased its stake in shares of Advance Auto Parts by 89.0% during the 2nd quarter. ARGA Investment Management LP now owns 53,300 shares of the company’s stock worth $6,214,000 after purchasing an additional 25,100 shares in the last quarter.
Shares of Advance Auto Parts (AAP) traded down $0.40 during trading hours on Friday, reaching $80.31. 200 shares of the company were exchanged, compared to its average volume of 1,790,000. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 1.48. The firm has a market capitalization of $5,960.00, a P/E ratio of 13.84, a P/E/G ratio of 1.49 and a beta of 0.90. Advance Auto Parts has a 1 year low of $80.21 and a 1 year high of $177.83.
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About Advance Auto Parts
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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