FY2018 Earnings Forecast for Advance Auto Parts Inc (AAP) Issued By Oppenheimer Holdings
Advance Auto Parts Inc (NYSE:AAP) – Stock analysts at Oppenheimer Holdings cut their FY2018 earnings per share (EPS) estimates for shares of 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 of $6.28 per share for the year, down from their previous forecast of $6.98. Oppenheimer Holdings has a “Hold” rating on the stock.
A number of other equities analysts have also commented on AAP. UBS AG reaffirmed a “buy” rating and set a $180.00 target price (down from $200.00) on shares of Advance Auto Parts in a research report on Wednesday, May 17th. Bank of America Corporation set a $77.00 target price on shares of Advance Auto Parts and gave the stock a “sell” rating in a research report on Thursday. Barclays PLC reaffirmed an “underweight” rating and set a $90.00 target price (down from $93.00) on shares of Advance Auto Parts in a research report on Wednesday. Citigroup Inc. reduced their target price on shares of Advance Auto Parts to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Gabelli reaffirmed a “buy” rating on shares of Advance Auto Parts in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $126.68.
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Advance Auto Parts (NYSE AAP) traded up 0.501% during mid-day trading on Friday, reaching $93.315. The company’s stock had a trading volume of 1,697,051 shares. The firm’s 50 day moving average is $105.73 and its 200-day moving average is $135.79. The stock has a market cap of $6.89 billion, a P/E ratio of 18.629 and a beta of 0.87. Advance Auto Parts has a one year low of $82.21 and a one year high of $177.83.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share.
A number of large investors have recently made changes to their positions in AAP. Howard Hughes Medical Institute increased its stake in shares of Advance Auto Parts by 11.9% in the first quarter. Howard Hughes Medical Institute now owns 2,584 shares of the company’s stock valued at $383,000 after buying an additional 274 shares during the period. Crestwood Advisors Group LLC increased its stake in shares of Advance Auto Parts by 4.7% in the first quarter. Crestwood Advisors Group LLC now owns 114,763 shares of the company’s stock valued at $17,015,000 after buying an additional 5,136 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of Advance Auto Parts by 3.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,964 shares of the company’s stock valued at $272,000 after buying an additional 61 shares during the period. Global Thematic Partners LLC increased its stake in shares of Advance Auto Parts by 48.5% in the first quarter. Global Thematic Partners LLC now owns 394,634 shares of the company’s stock valued at $58,509,000 after buying an additional 128,903 shares during the period. Finally, Nationwide Fund Advisors increased its stake in shares of Advance Auto Parts by 111.6% in the first quarter. Nationwide Fund Advisors now owns 150,177 shares of the company’s stock valued at $22,265,000 after buying an additional 79,214 shares during the period.
In other news, Director Jeffrey C. Smith bought 350,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was bought at an average cost of $134.29 per share, for a total transaction of $47,001,500.00. Following the completion of the purchase, the director now directly owns 1,273 shares in the company, valued at $170,951.17. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eugene I. Lee, Jr. bought 1,895 shares of the stock in a transaction on Friday, May 26th. The stock was purchased at an average price of $132.18 per share, with a total value of $250,481.10. Following the completion of the purchase, the director now owns 4,398 shares of the company’s stock, valued at $581,327.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 369,462 shares of company stock valued at $49,617,073. 4.50% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.26%. Advance Auto Parts’s dividend payout ratio (DPR) is 4.80%.
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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