Advance Auto Parts Inc to Post Q2 2017 Earnings of $1.62 Per Share, Oppenheimer Holdings Forecasts (AAP)
Advance Auto Parts Inc (NYSE:AAP) – Analysts at Oppenheimer Holdings lowered their Q2 2017 earnings per share estimates for shares of Advance Auto Parts in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst B. Nagel now forecasts that the company will post earnings per share of $1.62 for the quarter, down from their previous estimate of $1.88. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Advance Auto Parts’ Q3 2017 earnings at $1.75 EPS, Q4 2017 earnings at $1.14 EPS, FY2017 earnings at $6.22 EPS and FY2018 earnings at $6.98 EPS.
Several other analysts have also issued reports on the stock. Credit Suisse Group restated an “outperform” rating and issued a $135.00 price objective (down from $150.00) on shares of Advance Auto Parts in a report on Monday. BTIG Research restated a “sell” rating and issued a $90.00 price objective (down from $109.00) on shares of Advance Auto Parts in a report on Thursday, July 13th. BidaskClub lowered shares of Advance Auto Parts from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Bank of America Corporation lowered shares of Advance Auto Parts from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $150.00 to $90.00 in a report on Friday, July 7th. Finally, Jefferies Group LLC upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and reduced their price objective for the company from $150.00 to $130.00 in a report on Friday, July 7th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts currently has an average rating of “Hold” and an average price target of $151.41.
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Shares of Advance Auto Parts (AAP) opened at 103.23 on Friday. The company’s 50-day moving average is $118.01 and its 200 day moving average is $144.60. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 18.70 and a beta of 0.88. Advance Auto Parts has a 12 month low of $99.13 and a 12 month high of $177.83.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by $0.60. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.51 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 23rd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio (DPR) is 4.36%.
In other Advance Auto Parts news, Director Adriana Karaboutis purchased 367 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of $135.28 per share, with a total value of $49,647.76. Following the completion of the acquisition, the director now directly owns 3,043 shares of the company’s stock, valued at approximately $411,657.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Greco purchased 16,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average cost of $134.63 per share, with a total value of $2,154,080.00. Following the completion of the acquisition, the insider now directly owns 111,030 shares of the company’s stock, valued at $14,947,968.90. The disclosure for this purchase can be found here. Insiders purchased 369,462 shares of company stock valued at $49,617,073 over the last ninety days. 4.50% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its stake in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares during the last quarter. Van ECK Associates Corp increased its stake in Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock valued at $143,000 after buying an additional 67 shares during the last quarter. Global X Management Co. LLC increased its stake in Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock valued at $144,000 after buying an additional 218 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Advance Auto Parts during the first quarter valued at $148,000. Finally, State of Alaska Department of Revenue purchased a new stake in Advance Auto Parts during the first quarter valued at $192,000.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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