Advance Auto Parts (AAP) Announces Quarterly Results
Advance Auto Parts (NYSE:AAP) announced its earnings results on Thursday. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.16, ARN reports. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Advance Auto Parts updated its FY14 guidance to $7.20-7.40 EPS.
Shares of Advance Auto Parts (NYSE:AAP) traded up 12.74% during mid-day trading on Thursday, hitting $124.86. The stock had a trading volume of 3,374,211 shares. Advance Auto Parts has a one year low of $73.67 and a one year high of $120.31. The stock’s 50-day moving average is $113.2 and its 200-day moving average is $95.49. The company has a market cap of $9.083 billion and a P/E ratio of 20.04.
A number of analysts have recently weighed in on AAP shares. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Advance Auto Parts in a research note to investors on Friday, January 31st. They set an “overweight” rating and a $135.00 price target on the stock. On a related note, analysts at UBS AG raised their price target on shares of Advance Auto Parts from $110.00 to $135.00 in a research note to investors on Friday, January 10th. They now have a “buy” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of Advance Auto Parts to $130.00 in a research note to investors on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Buy” and a consensus price target of $112.38.
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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