Advance Auto Parts Trading 5.8% Higher After Earnings Beat (AAP)
Advance Auto Parts (NYSE:AAP)’s share price traded up 5.8% during trading on Thursday following a better than expected earnings announcement, American Banking & Market News reports. The stock traded as high as $130.65 and last traded at $130.00, with a volume of 1,187,205 shares traded. The stock had previously closed at $122.93.
The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.07. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.32 billion.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 3rd. Investors of record on Friday, September 19th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.20%.
AAP has been the subject of a number of recent research reports. Analysts at Zacks reiterated an “outperform” rating on shares of Advance Auto Parts in a research note on Thursday, August 7th. They now have a $148.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Advance Auto Parts in a research note on Friday, June 27th. They now have a $143.00 price target on the stock, up previously from $140.00. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of Advance Auto Parts in a research note on Thursday, June 26th. They now have a $150.00 price target on the stock, up previously from $145.00. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $133.83.
The stock’s 50-day moving average is $128.3 and its 200-day moving average is $124.6. The company has a market cap of $9.576 billion and a price-to-earnings ratio of 21.65.
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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