Advance Auto Parts, Inc. Forecasted to Post FY2021 Earnings of $12.00 Per Share (NYSE:AAP)

Advance Auto Parts, Inc. (NYSE:AAP) – Research analysts at Truist Securities issued their FY2021 earnings estimates for Advance Auto Parts in a note issued to investors on Wednesday, January 12th. Truist Securities analyst S. Ciccarelli expects that the company will post earnings per share of $12.00 for the year. Truist Securities has a “Buy” rating and a $273.00 price target on the stock. Truist Securities also issued estimates for Advance Auto Parts’ Q4 2021 earnings at $2.01 EPS, Q1 2022 earnings at $3.49 EPS, Q2 2022 earnings at $3.91 EPS, Q3 2022 earnings at $3.64 EPS, Q4 2022 earnings at $2.29 EPS, FY2022 earnings at $13.35 EPS, Q1 2023 earnings at $4.04 EPS, Q2 2023 earnings at $4.44 EPS, Q3 2023 earnings at $4.12 EPS, Q4 2023 earnings at $2.68 EPS and FY2023 earnings at $15.30 EPS.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Monday, November 15th. The company reported $3.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.87 by $0.34. Advance Auto Parts had a return on equity of 22.79% and a net margin of 5.89%. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business posted $2.81 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis.

AAP has been the subject of a number of other research reports. Credit Suisse Group increased their price target on Advance Auto Parts from $250.00 to $255.00 and gave the company an “outperform” rating in a research report on Tuesday, November 16th. DA Davidson increased their price target on Advance Auto Parts from $250.00 to $260.00 in a research report on Thursday, December 30th. Jefferies Financial Group increased their price target on Advance Auto Parts from $240.00 to $268.00 and gave the company a “buy” rating in a research report on Wednesday, November 17th. Morgan Stanley increased their price target on Advance Auto Parts from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 17th. Finally, Wells Fargo & Company increased their price objective on Advance Auto Parts from $235.00 to $255.00 in a research note on Wednesday, January 5th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $247.48.

NYSE:AAP opened at $239.60 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.24 and a debt-to-equity ratio of 0.32. Advance Auto Parts has a 1-year low of $143.15 and a 1-year high of $244.55. The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.16 and a beta of 1.27. The stock has a fifty day simple moving average of $234.09 and a 200 day simple moving average of $219.55.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Advance Auto Parts by 287.6% during the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock worth $23,708,000 after purchasing an additional 103,160 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Advance Auto Parts by 8.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,107 shares of the company’s stock worth $2,484,000 after purchasing an additional 960 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in shares of Advance Auto Parts during the 2nd quarter worth approximately $109,000. Rafferty Asset Management LLC grew its holdings in shares of Advance Auto Parts by 22.8% during the 2nd quarter. Rafferty Asset Management LLC now owns 5,557 shares of the company’s stock worth $1,140,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Advance Auto Parts by 273.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 4,867 shares of the company’s stock worth $997,000 after purchasing an additional 3,565 shares in the last quarter. 98.10% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Friday, December 17th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Thursday, December 16th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 40.49%.

About Advance Auto Parts

Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.

Featured Story: What is included in the gross domestic product?

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

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.