Advance Auto Parts, Inc. (NYSE:AAP) Expected to Announce Earnings of $2.47 Per Share

Wall Street analysts forecast that Advance Auto Parts, Inc. (NYSE:AAP) will report earnings per share of $2.47 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Advance Auto Parts’ earnings, with the highest EPS estimate coming in at $2.89 and the lowest estimate coming in at $1.83. Advance Auto Parts reported earnings per share of $0.91 in the same quarter last year, which would suggest a positive year-over-year growth rate of 171.4%. The business is scheduled to report its next 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 fiscal year, with EPS estimates ranging from $9.74 to $10.04. For the next fiscal year, analysts expect that the company will report earnings of $11.34 per share, with EPS estimates ranging from $10.85 to $11.79. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Monday, February 15th. The company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.10). The company had revenue of $2.37 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business earned $1.64 EPS.

A number of analysts have issued reports on the company. Morgan Stanley raised their price target on Advance Auto Parts from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 31st. UBS Group raised their price target on Advance Auto Parts from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, March 17th. Wells Fargo & Company raised their price target on Advance Auto Parts from $165.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 23rd. Stephens raised their price target on Advance Auto Parts from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, March 26th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on Advance Auto Parts in a research note on Monday, March 15th. They issued a “buy” rating and a $193.00 price target on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $163.64.

Several large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its holdings in shares of Advance Auto Parts by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 4,602 shares of the company’s stock valued at $725,000 after buying an additional 79 shares during the period. Meeder Asset Management Inc. increased its holdings in Advance Auto Parts by 44.1% during the 4th quarter. Meeder Asset Management Inc. now owns 271 shares of the company’s stock worth $43,000 after purchasing an additional 83 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Advance Auto Parts by 4.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 2,122 shares of the company’s stock worth $334,000 after purchasing an additional 85 shares during the last quarter. Worldquant Millennium Advisors LLC increased its holdings in Advance Auto Parts by 0.5% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 18,349 shares of the company’s stock worth $2,817,000 after purchasing an additional 89 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC increased its holdings in Advance Auto Parts by 1.2% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 7,328 shares of the company’s stock worth $1,154,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

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

The business 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. The ex-dividend date was Thursday, March 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. Advance Auto Parts’s payout ratio is currently 12.21%.

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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