Brokers Offer Predictions for Advance Auto Parts, Inc.’s Q2 2018 Earnings (AAP)
Advance Auto Parts, Inc. (NYSE:AAP) – Research analysts at Wedbush lowered their Q2 2018 earnings per share estimates for Advance Auto Parts in a research note issued to investors on Wednesday. Wedbush analyst S. Basham now expects that the company will post earnings per share of $1.75 for the quarter, down from their previous estimate of $1.87. Wedbush also issued estimates for Advance Auto Parts’ Q4 2018 earnings at $0.90 EPS and FY2019 earnings at $7.10 EPS.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.18. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.21 billion. Advance Auto Parts had a return on equity of 13.12% and a net margin of 4.40%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 EPS.
AAP has been the subject of a number of other reports. BidaskClub raised Advance Auto Parts from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. UBS AG reaffirmed a “buy” rating and set a $155.00 price objective (down from $170.00) on shares of Advance Auto Parts in a research report on Monday, August 7th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, August 15th. Deutsche Bank AG reaffirmed a “buy” rating and set a $139.00 price objective (down from $164.00) on shares of Advance Auto Parts in a research report on Friday, July 21st. Finally, Citigroup Inc. cut Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Advance Auto Parts presently has an average rating of “Hold” and a consensus target price of $104.89.
Advance Auto Parts (AAP) opened at $89.27 on Thursday. The stock has a market capitalization of $6,600.00, a P/E ratio of 17.06, a P/E/G ratio of 1.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 1.48. Advance Auto Parts has a 12 month low of $78.81 and a 12 month high of $177.83.
Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in Advance Auto Parts by 5.3% during the second 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 during the last quarter. Wells Fargo & Company MN increased its position in Advance Auto Parts by 78.0% during the second quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock worth $103,155,000 after buying an additional 387,673 shares in the last quarter. Tobam purchased a new position in Advance Auto Parts during the second quarter worth $118,000. Vanguard Group Inc. increased its position in Advance Auto Parts by 2.7% during the second quarter. Vanguard Group Inc. now owns 6,966,176 shares of the company’s stock worth $812,186,000 after buying an additional 185,970 shares in the last quarter. Finally, ARGA Investment Management LP increased its position in Advance Auto Parts by 89.0% during the second quarter. ARGA Investment Management LP now owns 53,300 shares of the company’s stock worth $6,214,000 after buying an additional 25,100 shares in the last quarter.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.24 annualized dividend and a yield of 0.27%. Advance Auto Parts’s dividend payout ratio is presently 5.03%.
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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