Advance Auto Parts (NYSE:AAP) Posts Earnings Results

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Advance Auto Parts (NYSE:AAP) released its quarterly earnings results on Tuesday. The company reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.22), RTT News reports. Advance Auto Parts had a return on equity of 15.23% and a net margin of 4.45%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm posted $1.97 earnings per share. Advance Auto Parts’s revenue for the quarter was up .2% on a year-over-year basis. Advance Auto Parts updated its FY 2019 guidance to EPS.

Shares of AAP opened at $142.23 on Wednesday. Advance Auto Parts has a 1-year low of $130.09 and a 1-year high of $186.15. The firm’s 50-day moving average is $153.32. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87. The company has a quick ratio of 0.31, a current ratio of 1.35 and a debt-to-equity ratio of 0.79.

A number of institutional investors and hedge funds have recently made changes to their positions in AAP. AJO LP raised its holdings in shares of Advance Auto Parts by 2.5% in the 1st quarter. AJO LP now owns 18,687 shares of the company’s stock valued at $3,187,000 after purchasing an additional 448 shares in the last quarter. Selway Asset Management raised its holdings in shares of Advance Auto Parts by 2.0% in the 1st quarter. Selway Asset Management now owns 24,150 shares of the company’s stock valued at $4,118,000 after purchasing an additional 475 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Advance Auto Parts by 25.0% in the 1st quarter. Eagle Asset Management Inc. now owns 20,735 shares of the company’s stock valued at $3,535,000 after purchasing an additional 4,145 shares in the last quarter. Manning & Napier Group LLC bought a new stake in shares of Advance Auto Parts in the 2nd quarter valued at about $27,472,000. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Advance Auto Parts by 0.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 212,221 shares of the company’s stock valued at $36,190,000 after purchasing an additional 1,426 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

A number of research firms recently commented on AAP. Evercore ISI reaffirmed a “buy” rating on shares of Advance Auto Parts in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $200.00 price target on shares of Advance Auto Parts in a research note on Thursday, July 11th. Zacks Investment Research raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $161.00 price target for the company in a research note on Wednesday, July 31st. William Blair reaffirmed an “outperform” rating on shares of Advance Auto Parts in a research note on Wednesday, May 22nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $162.00 price target (down from $195.00) on shares of Advance Auto Parts in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $184.89.

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 for Advance Auto Parts (NYSE:AAP)

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