Advance Auto Parts, Inc. (NYSE:AAP) to Post FY2021 Earnings of $9.74 Per Share, Wedbush Forecasts

Advance Auto Parts, Inc. (NYSE:AAP) – Investment analysts at Wedbush issued their FY2021 earnings estimates for shares of Advance Auto Parts in a note issued to investors on Wednesday, November 6th. Wedbush analyst S. Basham forecasts that the company will earn $9.74 per share for the year.

AAP has been the subject of a number of other research reports. Evercore ISI restated a “buy” rating on shares of Advance Auto Parts in a report on Tuesday, August 13th. Credit Suisse Group lowered their target price on Advance Auto Parts from $195.00 to $162.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Zacks Investment Research upgraded Advance Auto Parts from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a report on Wednesday, July 31st. Morgan Stanley set a $185.00 target price on Advance Auto Parts and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Citigroup upgraded Advance Auto Parts from a “neutral” rating to a “buy” rating and upped their target price for the stock from $156.00 to $188.00 in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $181.65.

Advance Auto Parts stock opened at $167.40 on Friday. The business has a fifty day moving average of $162.39 and a two-hundred day moving average of $155.50. The company has a quick ratio of 0.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.76. The firm has a market cap of $12.00 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.83 and a beta of 0.84. Advance Auto Parts has a twelve month low of $130.09 and a twelve month high of $186.15.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.22). Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company earned $1.97 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year.

Institutional investors and hedge funds have recently modified their holdings of the company. Doyle Wealth Management purchased a new stake in shares of Advance Auto Parts during the 2nd quarter valued at $31,000. Berman Capital Advisors LLC lifted its holdings in shares of Advance Auto Parts by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $33,000 after purchasing an additional 140 shares during the last quarter. Citizens Financial Group Inc RI lifted its holdings in shares of Advance Auto Parts by 466.7% during the 2nd quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock valued at $34,000 after purchasing an additional 182 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of Advance Auto Parts by 625.0% during the 2nd quarter. Avestar Capital LLC now owns 406 shares of the company’s stock valued at $42,000 after purchasing an additional 350 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Advance Auto Parts by 66.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 292 shares of the company’s stock valued at $45,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

About Advance Auto Parts

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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