Advance Auto Parts, Inc. (NYSE:AAP) – Stock analysts at Wedbush dropped their Q4 2020 EPS estimates for shares of Advance Auto Parts in a note issued to investors on Tuesday, June 30th. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of $1.65 for the quarter, down from their prior estimate of $1.67. Wedbush currently has a “Outperform” rating and a $150.00 target price on the stock. Wedbush also issued estimates for Advance Auto Parts’ FY2022 earnings at $9.82 EPS.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Tuesday, May 19th. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.84). The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Advance Auto Parts had a net margin of 4.10% and a return on equity of 13.20%. Advance Auto Parts’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the company earned $2.46 earnings per share.
NYSE AAP opened at $142.45 on Wednesday. The company has a market cap of $9.86 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.30. Advance Auto Parts has a 52 week low of $71.33 and a 52 week high of $171.43. The company has a quick ratio of 0.42, a current ratio of 1.36 and a debt-to-equity ratio of 0.92. The firm’s 50-day simple moving average is $138.33 and its two-hundred day simple moving average is $131.61.
Hedge funds and other institutional investors have recently modified their holdings of the business. Heritage Wealth Advisors grew its position in Advance Auto Parts by 100.0% during the first quarter. Heritage Wealth Advisors now owns 300 shares of the company’s stock valued at $28,000 after acquiring an additional 150 shares during the last quarter. Harwood Advisory Group LLC bought a new position in Advance Auto Parts during the first quarter valued at approximately $35,000. Eudaimonia Partners LLC bought a new position in Advance Auto Parts during the first quarter valued at approximately $37,000. CSat Investment Advisory L.P. boosted its stake in shares of Advance Auto Parts by 42.7% during the first quarter. CSat Investment Advisory L.P. now owns 521 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Advance Auto Parts by 24.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 809 shares of the company’s stock valued at $75,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 96.85% of the company’s stock.
In related news, CAO Andrew E. Page sold 720 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $141.38, for a total value of $101,793.60. Following the transaction, the chief accounting officer now directly owns 7,008 shares in the company, valued at $990,791.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Saturday, June 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, June 11th. Advance Auto Parts’s dividend payout ratio (DPR) is 12.21%.
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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