Advance Auto Parts Inc (AAP) Expected to Post Quarterly Sales of $2.22 Billion
Analysts expect Advance Auto Parts Inc (NYSE:AAP) to post $2.22 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Advance Auto Parts’ earnings, with estimates ranging from $2.20 billion to $2.27 billion. Advance Auto Parts reported sales of $2.25 billion in the same quarter last year, which would suggest a negative year over year growth rate of 1.3%. The business is scheduled to report its next earnings results on Monday, November 13th.
On average, analysts expect that Advance Auto Parts will report full year sales of $2.22 billion for the current financial year, with estimates ranging from $9.35 billion to $9.45 billion. For the next financial year, analysts expect that the firm will report sales of $9.63 billion per share, with estimates ranging from $9.49 billion to $9.87 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.07). Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company posted $1.90 EPS. The business’s revenue was up .3% on a year-over-year basis.
Several equities analysts recently commented on the stock. Barclays PLC reaffirmed an “equal weight” rating and set a $90.00 price objective (down previously from $93.00) on shares of Advance Auto Parts in a research note on Wednesday, August 16th. UBS AG reaffirmed a “buy” rating and set a $118.00 price objective (down previously from $155.00) on shares of Advance Auto Parts in a research note on Wednesday, August 16th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research note on Tuesday, August 15th. Citigroup Inc. reduced their price objective on shares of Advance Auto Parts to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, August 16th. Finally, Bank of America Corporation set a $77.00 price objective on shares of Advance Auto Parts and gave the company a “sell” rating in a research note on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $118.79.
Shares of Advance Auto Parts (AAP) opened at 86.01 on Tuesday. The company has a market cap of $6.35 billion, a P/E ratio of 17.17 and a beta of 0.92. The stock’s 50 day moving average is $95.62 and its 200-day moving average is $117.62. Advance Auto Parts has a one year low of $82.21 and a one year high of $177.83.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. Advance Auto Parts’s payout ratio is 4.80%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Veritable L.P. lifted its holdings in shares of Advance Auto Parts by 0.3% in the 2nd quarter. Veritable L.P. now owns 2,008 shares of the company’s stock worth $234,000 after acquiring an additional 6 shares during the last quarter. QS Investors LLC raised its holdings in Advance Auto Parts by 0.9% during the 2nd 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. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Advance Auto Parts by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,486 shares of the company’s stock valued at $640,000 after buying an additional 14 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Advance Auto Parts by 0.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 5,676 shares of the company’s stock valued at $662,000 after buying an additional 47 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its holdings in Advance Auto Parts by 0.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 20,197 shares of the company’s stock valued at $2,355,000 after buying an additional 60 shares during the last quarter.
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About Advance Auto Parts
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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