Brokerages Expect Advance Auto Parts, Inc. (NYSE:AAP) Will Announce Earnings of $2.47 Per Share

Brokerages predict that Advance Auto Parts, Inc. (NYSE:AAP) will post earnings of $2.47 per share for the current quarter, according to Zacks. Four analysts have made estimates for Advance Auto Parts’ earnings, with estimates ranging from $1.83 to $2.89. Advance Auto Parts reported earnings of $0.91 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 171.4%. The firm is expected to report its next quarterly earnings report on Tuesday, May 18th.

On average, analysts expect that Advance Auto Parts will report full-year earnings of $9.88 per share for the current year, with EPS estimates ranging from $9.74 to $10.04. For the next fiscal year, analysts expect that the firm will report earnings of $11.34 per share, with EPS estimates ranging from $10.85 to $11.79. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Monday, February 15th. The company reported $1.87 EPS for the quarter, missing the Zacks’ consensus estimate of $1.97 by ($0.10). The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Advance Auto Parts had a net margin of 4.84% and a return on equity of 15.75%. During the same quarter in the previous year, the company posted $1.64 earnings per share.

AAP has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of Advance Auto Parts from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 31st. Citigroup started coverage on shares of Advance Auto Parts in a report on Monday, March 15th. They set a “buy” rating and a $193.00 target price on the stock. UBS Group upped their target price on shares of Advance Auto Parts from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, March 17th. Wells Fargo & Company upped their target price on shares of Advance Auto Parts from $165.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 23rd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on shares of Advance Auto Parts in a report on Monday, March 15th. They set a “buy” rating and a $193.00 target price on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $163.64.

Shares of AAP stock opened at $182.62 on Monday. The stock has a market capitalization of $11.97 billion, a P/E ratio of 26.54, a PEG ratio of 1.31 and a beta of 1.27. The company has a current ratio of 1.38, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $175.56 and its 200 day moving average is $160.81. Advance Auto Parts has a 12 month low of $98.96 and a 12 month high of $187.91.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 2nd. Investors of record on Friday, March 19th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, March 18th. Advance Auto Parts’s dividend payout ratio is currently 12.21%.

Hedge funds have recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership boosted its position in Advance Auto Parts by 0.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,657,038 shares of the company’s stock valued at $261,000,000 after buying an additional 14,311 shares during the period. Bessemer Group Inc. boosted its position in Advance Auto Parts by 0.8% during the 4th quarter. Bessemer Group Inc. now owns 1,184,473 shares of the company’s stock valued at $186,566,000 after buying an additional 9,004 shares during the period. Morgan Stanley boosted its position in Advance Auto Parts by 90.0% during the 4th quarter. Morgan Stanley now owns 1,108,920 shares of the company’s stock valued at $174,667,000 after buying an additional 525,152 shares during the period. Norges Bank purchased a new stake in Advance Auto Parts during the 4th quarter valued at $170,946,000. Finally, Dimensional Fund Advisors LP boosted its position in Advance Auto Parts by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 761,291 shares of the company’s stock valued at $119,913,000 after buying an additional 36,137 shares during the period. 93.86% of the stock is currently owned by institutional investors.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.

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

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