Advance Auto Parts Inc Forecasted to Earn Q3 2017 Earnings of $1.20 Per Share (AAP)
Advance Auto Parts Inc (NYSE:AAP) – Jefferies Group decreased their Q3 2017 EPS estimates for shares of Advance Auto Parts in a research note issued to investors on Wednesday. Jefferies Group analyst B. Jordan now forecasts that the company will earn $1.20 per share for the quarter, down from their previous estimate of $1.34. Jefferies Group has a “Buy” rating and a $130.00 price objective on the stock. Jefferies Group also issued estimates for Advance Auto Parts’ FY2017 earnings at $5.27 EPS.
Advance Auto Parts (NYSE:AAP) last issued its 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). 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 company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. ILLEGAL ACTIVITY WARNING: This story was first reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.americanbankingnews.com/2017/10/19/advance-auto-parts-inc-forecasted-to-earn-q3-2017-earnings-of-1-20-per-share-aap.html.
AAP has been the topic of a number of other reports. Bank of America Corporation restated an “underperform” rating and set a $87.50 price target on shares of Advance Auto Parts in a research note on Tuesday, September 5th. Royal Bank Of Canada decreased their price target on Advance Auto Parts from $153.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 6th. Wedbush restated an “outperform” rating on shares of Advance Auto Parts in a research note on Thursday, July 6th. Credit Suisse Group set a $100.00 price target on Advance Auto Parts and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Finally, Morgan Stanley restated an “overweight” rating and set a $125.00 price target (down from $160.00) on shares of Advance Auto Parts in a research note on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $118.79.
Shares of Advance Auto Parts (NYSE:AAP) opened at 87.81 on Thursday. The firm’s 50-day moving average price is $94.95 and its 200-day moving average price is $116.53. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 17.53 and a beta of 0.92. Advance Auto Parts has a 12 month low of $82.21 and a 12 month high of $177.83.
A number of large investors have recently bought and sold shares of the stock. Sentry Investment Management LLC increased its holdings in Advance Auto Parts by 40.3% in the second quarter. Sentry Investment Management LLC now owns 5,473 shares of the company’s stock valued at $638,000 after buying an additional 1,572 shares during the last quarter. Toronto Dominion Bank increased its holdings in Advance Auto Parts by 25.3% in the second quarter. Toronto Dominion Bank now owns 25,279 shares of the company’s stock valued at $2,947,000 after buying an additional 5,109 shares during the last quarter. Rikoon Group LLC increased its holdings in Advance Auto Parts by 6.0% in the second quarter. Rikoon Group LLC now owns 6,698 shares of the company’s stock valued at $781,000 after buying an additional 381 shares during the last quarter. Verition Fund Management LLC increased its holdings in Advance Auto Parts by 2.9% in the second quarter. Verition Fund Management LLC now owns 6,574 shares of the company’s stock valued at $766,000 after buying an additional 184 shares during the last quarter. Finally, Intellectus Partners LLC increased its holdings in Advance Auto Parts by 39.7% in the second quarter. Intellectus Partners LLC now owns 4,260 shares of the company’s stock valued at $497,000 after buying an additional 1,210 shares during the last quarter.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.27%. The ex-dividend date was Thursday, September 21st. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.
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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