Advance Auto Parts Inc (AAP) Expected to Post Quarterly Sales of $2.22 Billion
Equities research analysts predict that Advance Auto Parts Inc (NYSE:AAP) will announce sales of $2.22 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Advance Auto Parts’ earnings. The lowest sales estimate is $2.20 billion and the highest is $2.27 billion. Advance Auto Parts posted sales of $2.25 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 1.3%. The company is scheduled to report its next quarterly earnings report on Monday, November 13th.
On average, analysts expect that Advance Auto Parts will report full-year sales of $2.22 billion for the current fiscal year, with estimates ranging from $9.35 billion to $9.45 billion. For the next financial year, analysts forecast that the business will post sales of $9.63 billion per share, with estimates ranging from $9.49 billion to $9.87 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm posted $1.90 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis.
Several equities analysts recently issued reports on the company. Bank of America Corporation restated an “underperform” rating and set a $87.50 price target on shares of Advance Auto Parts in a research report on Tuesday, September 5th. Barclays PLC upgraded Advance Auto Parts from an “underweight” rating to an “equal weight” rating and set a $90.00 price target on the stock in a research report on Monday, August 21st. Credit Suisse Group set a $100.00 price target on Advance Auto Parts and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Deutsche Bank AG set a $101.00 price target on Advance Auto Parts and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Gabelli restated a “buy” rating on shares of Advance Auto Parts in a research report on Wednesday, August 16th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Advance Auto Parts presently has a consensus rating of “Hold” and an average price target of $124.03.
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Advance Auto Parts (NYSE AAP) opened at 94.03 on Friday. The stock has a 50 day moving average of $101.56 and a 200 day moving average of $128.58. Advance Auto Parts has a 12-month low of $82.21 and a 12-month high of $177.83. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 18.77 and a beta of 0.90.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be paid 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%.
A number of large investors have recently made changes to their positions in AAP. IFP Advisors Inc raised its stake in Advance Auto Parts by 3.2% during 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. Tobam purchased a new position in Advance Auto Parts during the second quarter valued at $118,000. QS Investors LLC raised its stake in Advance Auto Parts by 0.9% during the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after buying an additional 9 shares during the last quarter. Huntington National Bank raised its stake in Advance Auto Parts by 37.1% during the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after buying an additional 283 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in Advance Auto Parts by 14.3% during the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after buying an additional 139 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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