Advance Auto Parts Inc. (AAP) Issues FY13 Earnings Guidance
Advance Auto Parts Inc. (NYSE:AAP) issued an update on its FY13 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.30-5.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.59, ARN reports.
Advance Auto Parts Inc. (NYSE:AAP) opened at 82.50 on Wednesday. Advance Auto Parts Inc. has a 1-year low of $64.36 and a 1-year high of $88.74. The stock’s 50-day moving average is $81.10 and its 200-day moving average is $82.27. The company has a market cap of $6.017 billion and a P/E ratio of 15.55.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.11. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that Advance Auto Parts Inc. will post $5.54 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on AAP shares. Analysts at Wedbush initiated coverage on shares of Advance Auto Parts in a research note to investors on Monday. They set an underperform rating and a $70.00 price target on the stock. On a related note, analysts at Zacks reiterated a neutral rating on shares of Advance Auto Parts in a research note to investors on Monday, September 30th. They now have a $86.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Advance Auto Parts from $94.00 to $95.00 in a research note to investors on Tuesday, August 13th. They now have an overweight rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Advance Auto Parts has a consensus rating of Hold and an average price target of $120.21.
Advance Auto Parts, Inc (NYSE:AAP) is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items primarily operating within the United States.
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