$1.93 Earnings Per Share Expected for Advance Auto Parts, Inc. (NYSE:AAP) This Quarter

Equities analysts predict that Advance Auto Parts, Inc. (NYSE:AAP) will report earnings per share of $1.93 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Advance Auto Parts’ earnings. The highest EPS estimate is $1.99 and the lowest is $1.84. Advance Auto Parts posted earnings per share of $1.87 during the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 15th.

On average, analysts expect that Advance Auto Parts will report full-year earnings of $11.84 per share for the current year, with EPS estimates ranging from $11.50 to $11.98. For the next fiscal year, analysts expect that the firm will report earnings of $13.12 per share, with EPS estimates ranging from $10.63 to $14.08. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Monday, November 15th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.87 by $0.34. Advance Auto Parts had a net margin of 5.89% and a return on equity of 22.79%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the company posted $2.81 earnings per share. Advance Auto Parts’s revenue for the quarter was up 3.1% on a year-over-year basis.

AAP has been the subject of a number of recent analyst reports. Wedbush upped their price target on shares of Advance Auto Parts from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, November 16th. Citigroup upped their price target on shares of Advance Auto Parts from $282.00 to $290.00 and gave the company a “buy” rating in a report on Tuesday, November 16th. Morgan Stanley upped their price objective on shares of Advance Auto Parts from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 17th. Jefferies Financial Group upped their price objective on shares of Advance Auto Parts from $240.00 to $268.00 and gave the company a “buy” rating in a research report on Wednesday, November 17th. Finally, Bank of America upped their price objective on shares of Advance Auto Parts from $256.00 to $282.00 and gave the company a “buy” rating in a research report on Tuesday, November 16th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $239.89.

In related news, EVP Robert B. Cushing sold 3,500 shares of the stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $202.15, for a total value of $707,525.00. Following the completion of the transaction, the executive vice president now owns 15,752 shares of the company’s stock, valued at $3,184,266.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Comerica Bank grew its stake in Advance Auto Parts by 58.8% during the third quarter. Comerica Bank now owns 28,762 shares of the company’s stock worth $6,672,000 after buying an additional 10,649 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Advance Auto Parts by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 525,040 shares of the company’s stock worth $109,676,000 after buying an additional 4,942 shares during the last quarter. Gyon Technologies Capital Management LP bought a new stake in Advance Auto Parts during the third quarter worth about $687,000. National Pension Service grew its stake in Advance Auto Parts by 136,188.9% during the third quarter. National Pension Service now owns 12,266 shares of the company’s stock worth $2,562,000 after buying an additional 12,257 shares during the last quarter. Finally, Willis Investment Counsel grew its stake in shares of Advance Auto Parts by 18.3% during the third quarter. Willis Investment Counsel now owns 89,925 shares of the company’s stock valued at $18,784,000 after purchasing an additional 13,913 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

AAP stock traded down $2.40 during mid-day trading on Thursday, reaching $233.37. 360,961 shares of the stock traded hands, compared to its average volume of 786,449. The company has a quick ratio of 0.35, a current ratio of 1.24 and a debt-to-equity ratio of 0.32. Advance Auto Parts has a 52 week low of $143.15 and a 52 week high of $243.05. The business has a 50-day moving average of $222.45 and a two-hundred day moving average of $210.15. The firm has a market capitalization of $14.55 billion, a PE ratio of 23.62, a P/E/G ratio of 1.26 and a beta of 1.29.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Friday, December 17th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.71%. The ex-dividend date is Thursday, December 16th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 40.49%.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.

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