Q2 2017 EPS Estimates for Advance Auto Parts Inc Lowered by Analyst (NYSE:AAP)
Advance Auto Parts Inc (NYSE:AAP) – Northcoast Research dropped their Q2 2017 earnings per share (EPS) estimates for shares of Advance Auto Parts in a note issued to investors on Wednesday. Northcoast Research analyst N. Mitchell now expects that the company will post earnings per share of $1.77 for the quarter, down from their prior forecast of $1.96. Northcoast Research also issued estimates for Advance Auto Parts’ Q3 2017 earnings at $1.84 EPS, FY2017 earnings at $6.30 EPS, Q2 2018 earnings at $2.09 EPS and FY2018 earnings at $7.98 EPS.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Wednesday, May 24th. The company reported $1.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.20 by $0.60. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the company earned $2.51 earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: “Q2 2017 EPS Estimates for Advance Auto Parts Inc Lowered by Analyst (NYSE:AAP)” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/07/27/q2-2017-eps-estimates-for-advance-auto-parts-inc-lowered-by-analyst-nyseaap.html.
A number of other equities analysts also recently commented on AAP. Bank of America Corporation lowered their price objective on Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. Morgan Stanley reissued an “overweight” rating and set a $160.00 price objective (down from $185.00) on shares of Advance Auto Parts in a research report on Sunday, May 28th. Gabelli raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Thursday, April 20th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Advance Auto Parts in a research report on Wednesday, May 31st. Finally, Zacks Investment Research downgraded Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $149.94.
Shares of Advance Auto Parts (NYSE:AAP) opened at 106.70 on Thursday. The company has a 50-day moving average of $114.55 and a 200-day moving average of $142.69. Advance Auto Parts has a 1-year low of $99.13 and a 1-year high of $177.83. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 19.33 and a beta of 0.88.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Friday, June 23rd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, June 21st. Advance Auto Parts’s dividend payout ratio is currently 4.36%.
In other news, insider Thomas Greco acquired 16,000 shares of Advance Auto Parts stock in a transaction on Friday, May 26th. The stock was bought at an average price of $134.63 per share, for a total transaction of $2,154,080.00. Following the completion of the purchase, the insider now owns 111,030 shares in the company, valued at $14,947,968.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Adriana Karaboutis acquired 367 shares of Advance Auto Parts stock in a transaction on Friday, June 2nd. The stock was purchased at an average price of $135.28 per share, with a total value of $49,647.76. Following the purchase, the director now owns 3,043 shares of the company’s stock, valued at approximately $411,657.04. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 369,462 shares of company stock valued at $49,617,073. 4.50% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of AAP. Quantitative Systematic Strategies LLC boosted its stake in shares of Advance Auto Parts by 98.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,574 shares of the company’s stock worth $2,457,000 after buying an additional 8,224 shares in the last quarter. Patten & Patten Inc. TN bought a new position in Advance Auto Parts during the first quarter worth about $491,000. BKD Wealth Advisors LLC bought a new position in Advance Auto Parts during the first quarter worth about $299,000. Parametrica Management Ltd bought a new position in Advance Auto Parts during the first quarter worth about $250,000. Finally, Legacy Private Trust Co. raised its position in Advance Auto Parts by 3.7% in the first quarter. Legacy Private Trust Co. now owns 5,215 shares of the company’s stock worth $773,000 after buying an additional 185 shares during the last quarter.
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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