Advance Auto Parts, Inc. (AAP) Expected to Post Earnings of $1.98 Per Share

Brokerages predict that Advance Auto Parts, Inc. (NYSE:AAP) will announce earnings per share of $1.98 for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Advance Auto Parts’ earnings, with the highest EPS estimate coming in at $2.06 and the lowest estimate coming in at $1.91. Advance Auto Parts posted earnings per share of $1.60 during the same quarter last year, which suggests a positive year over year growth rate of 23.8%. The business is scheduled to report its next earnings results on Wednesday, May 23rd.

According to Zacks, analysts expect that Advance Auto Parts will report full-year earnings of $6.71 per share for the current fiscal year, with EPS estimates ranging from $6.44 to $7.08. For the next year, analysts forecast that the business will report earnings of $7.58 per share, with EPS estimates ranging from $6.76 to $9.20. Zacks’ EPS averages are a mean average based on a survey of research analysts that follow Advance Auto Parts.

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Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.12. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. Advance Auto Parts’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS.

Several analysts have recently commented on the stock. Barclays reaffirmed an “equal weight” rating and issued a $114.00 price objective (up from $105.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Stephens set a $108.00 price objective on shares of Advance Auto Parts and gave the company a “hold” rating in a report on Tuesday, January 16th. Wedbush reaffirmed a “buy” rating and issued a $130.00 price objective (up from $115.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $125.00 price objective (up from $100.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Finally, Moffett Nathanson assumed coverage on shares of Advance Auto Parts in a report on Monday, December 4th. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $112.14.

Advance Auto Parts stock traded down $0.87 during mid-day trading on Thursday, hitting $110.84. 1,081,320 shares of the stock traded hands, compared to its average volume of 1,134,925. The stock has a market cap of $8,199.72, a P/E ratio of 20.60, a P/E/G ratio of 1.33 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 0.36. Advance Auto Parts has a fifty-two week low of $78.81 and a fifty-two week high of $151.72.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Thursday, March 22nd. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.74%.

In other Advance Auto Parts news, Director John C. Brouillard sold 1,745 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $116.08, for a total transaction of $202,559.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Greco acquired 8,640 shares of Advance Auto Parts stock in a transaction on Wednesday, March 21st. The shares were bought at an average price of $115.77 per share, with a total value of $1,000,252.80. Following the completion of the transaction, the insider now directly owns 135,081 shares of the company’s stock, valued at approximately $15,638,327.37. The disclosure for this purchase can be found here. Corporate insiders own 4.10% of the company’s stock.

A number of large investors have recently bought and sold shares of AAP. Franklin Resources Inc. raised its position in Advance Auto Parts by 533.5% during the fourth quarter. Franklin Resources Inc. now owns 3,418,890 shares of the company’s stock worth $340,831,000 after acquiring an additional 2,879,215 shares during the period. Artisan Partners Limited Partnership raised its position in Advance Auto Parts by 172.5% during the third quarter. Artisan Partners Limited Partnership now owns 2,922,315 shares of the company’s stock worth $289,894,000 after acquiring an additional 1,849,808 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Advance Auto Parts by 16,567.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 697,887 shares of the company’s stock worth $69,522,000 after acquiring an additional 693,700 shares during the period. Capital International Investors raised its position in Advance Auto Parts by 107.3% during the third quarter. Capital International Investors now owns 1,328,500 shares of the company’s stock worth $131,787,000 after acquiring an additional 687,700 shares during the period. Finally, Arlington Value Capital LLC raised its position in Advance Auto Parts by 1,435.9% during the fourth quarter. Arlington Value Capital LLC now owns 499,283 shares of the company’s stock worth $49,773,000 after acquiring an additional 466,776 shares during the period.

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About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

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

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