Advance Auto Parts Inc (AAP) to Release Earnings on Tuesday
Advance Auto Parts Inc (NYSE:AAP) will be posting its quarterly earnings results before the market opens on Tuesday, August 15th. Analysts expect Advance Auto Parts to post earnings of $1.75 per share for the quarter.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.94 billion. During the same quarter last year, the firm earned $2.51 earnings per share. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, analysts expect Advance Auto Parts to post $6.41 EPS for the current fiscal year and $7.71 EPS for the next fiscal year.
Shares of Advance Auto Parts Inc (NYSE AAP) opened at 109.49 on Tuesday. Advance Auto Parts Inc has a 12-month low of $99.13 and a 12-month high of $177.83. The company has a market capitalization of $8.08 billion, a P/E ratio of 19.84 and a beta of 0.87. The stock has a 50 day moving average of $112.57 and a 200-day moving average of $140.70.
A number of equities research analysts have recently commented on the stock. Barclays PLC reiterated a “sell” rating and issued a $120.00 target price on shares of Advance Auto Parts in a research report on Friday, May 26th. Bank of America Corporation reduced their target price on shares of 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. Royal Bank Of Canada reduced their target price on shares of Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating for the company in a research report on Thursday, May 25th. UBS AG reiterated a “buy” rating and issued a $170.00 target price (down from $180.00) on shares of Advance Auto Parts in a research report on Thursday, May 25th. Finally, Jefferies Group LLC increased their target price on shares of Advance Auto Parts to $150.00 and gave the company a “hold” rating in a research report on Wednesday, June 28th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $149.06.
In related news, Director Jeffrey C. Smith purchased 350,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was acquired at an average cost of $134.29 per share, for a total transaction of $47,001,500.00. Following the completion of the transaction, the director now directly owns 1,273 shares in the company, valued at $170,951.17. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Adriana Karaboutis purchased 367 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were bought at an average price of $135.28 per share, with a total value of $49,647.76. Following the completion of the transaction, the director now owns 3,043 shares of the company’s stock, valued at $411,657.04. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 369,462 shares of company stock valued at $49,617,073. Company insiders own 4.50% of the company’s stock.
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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