Brokers Issue Forecasts for Advance Auto Parts Inc’s Q3 2017 Earnings (AAP)
Advance Auto Parts Inc (NYSE:AAP) – Equities research analysts at Oppenheimer Holdings decreased their Q3 2017 earnings per share (EPS) estimates for Advance Auto Parts in a research report issued to clients and investors on Tuesday. Oppenheimer Holdings analyst B. Nagel now forecasts that the company will post earnings per share of $1.51 for the quarter, down from their previous forecast of $1.75. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Advance Auto Parts’ Q4 2017 earnings at $0.97 EPS and FY2017 earnings at $5.80 EPS.
Several other analysts have also recently weighed in on AAP. Gabelli upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, April 20th. Citigroup Inc. dropped their price objective on shares of Advance Auto Parts from $177.00 to $168.00 and set a “neutral” rating for the company in a research note on Tuesday, April 25th. Zacks Investment Research cut shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Royal Bank Of Canada dropped their price objective on shares of Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating for the company in a research note on Tuesday, May 2nd. Finally, UBS AG reiterated a “buy” rating and issued a $180.00 price objective (down previously from $200.00) on shares of Advance Auto Parts in a research note on Wednesday, May 17th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $126.68.
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Advance Auto Parts (NYSE:AAP) opened at 91.51 on Thursday. The stock’s 50 day moving average is $106.41 and its 200-day moving average is $136.10. Advance Auto Parts has a 12 month low of $82.21 and a 12 month high of $177.83. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 16.58 and a beta of 0.87. Advance Auto Parts also saw unusually large options trading activity on Monday. Traders purchased 13,082 call options on the company. This represents an increase of approximately 943% compared to the average daily volume of 1,254 call options.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, September 21st. Advance Auto Parts’s payout ratio is 4.80%.
In other Advance Auto Parts news, insider Thomas Greco bought 16,000 shares of Advance Auto Parts stock in a transaction on Friday, May 26th. The shares were purchased at an average cost of $134.63 per share, with a total value of $2,154,080.00. Following the acquisition, the insider now directly owns 111,030 shares of the company’s stock, valued at approximately $14,947,968.90. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Adriana Karaboutis bought 367 shares of Advance Auto Parts stock in a transaction on Friday, June 2nd. The shares were acquired at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the completion of the acquisition, the director now directly owns 3,043 shares in the company, valued at $411,657.04. The disclosure for this purchase can be found here. Insiders have acquired a total of 369,462 shares of company stock worth $49,617,073 over the last three months. Insiders own 4.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Veritable L.P. raised its stake in Advance Auto Parts by 0.3% in the second quarter. Veritable L.P. now owns 2,008 shares of the company’s stock worth $234,000 after buying an additional 6 shares during the last quarter. Cleararc Capital Inc. raised its stake in Advance Auto Parts by 0.4% in the first quarter. Cleararc Capital Inc. now owns 1,802 shares of the company’s stock worth $267,000 after buying an additional 7 shares during the last quarter. QS Investors LLC raised its stake in Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after buying an additional 9 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Advance Auto Parts by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,486 shares of the company’s stock worth $640,000 after buying an additional 14 shares during the last quarter. Finally, IFP Advisors Inc raised 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 worth $114,000 after buying an additional 24 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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