Advance Auto Parts (AAP) Scheduled to Post Quarterly Earnings on Wednesday

Advance Auto Parts (NYSE:AAP) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, May 29th. Analysts expect the company to announce earnings of $0.69 per share for the quarter. Advance Auto Parts has set its FY 2024 guidance at 3.750-4.250 EPS and its FY24 guidance at $3.75-4.25 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.83). The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.88 earnings per share. On average, analysts expect Advance Auto Parts to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Advance Auto Parts Stock Performance

AAP opened at $69.57 on Monday. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 94.01, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29. Advance Auto Parts has a 1-year low of $47.73 and a 1-year high of $114.57. The business has a 50 day moving average price of $77.32 and a two-hundred day moving average price of $67.50.

Insider Activity

In related news, Director Carla Jean Bailo acquired 310 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average cost of $81.19 per share, for a total transaction of $25,168.90. Following the transaction, the director now directly owns 5,789 shares in the company, valued at $470,008.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Advance Auto Parts news, Director Carla Jean Bailo purchased 310 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was purchased at an average price of $81.19 per share, with a total value of $25,168.90. Following the completion of the purchase, the director now owns 5,789 shares of the company’s stock, valued at $470,008.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Herman L. Word, Jr. sold 1,858 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the sale, the executive vice president now owns 10,448 shares of the company’s stock, valued at $899,363.84. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

AAP has been the topic of several recent analyst reports. Evercore ISI cut their target price on shares of Advance Auto Parts from $82.00 to $78.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of Advance Auto Parts from $55.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Wedbush restated a “neutral” rating and set a $70.00 price target on shares of Advance Auto Parts in a report on Friday. Royal Bank of Canada boosted their price target on shares of Advance Auto Parts from $47.00 to $68.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. Finally, StockNews.com cut shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Three equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.19.

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.