Wedbush Equities Analysts Increase Earnings Estimates for Advance Auto Parts, Inc. (AAP)

Advance Auto Parts, Inc. (NYSE:AAP) – Investment analysts at Wedbush raised their Q4 2017 earnings per share estimates for shares of Advance Auto Parts in a research report issued to clients and investors on Tuesday. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of $0.65 for the quarter, up from their previous forecast of $0.60. Wedbush also issued estimates for Advance Auto Parts’ FY2018 earnings at $6.03 EPS and FY2019 earnings at $7.14 EPS.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.18. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.21 billion. Advance Auto Parts had a return on equity of 13.51% and a net margin of 3.75%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $1.73 EPS.

Several other research firms have also weighed in on AAP. Morgan Stanley set a $120.00 price objective on Advance Auto Parts and gave the company a “buy” rating in a research note on Tuesday, December 12th. Moffett Nathanson began coverage on Advance Auto Parts in a research report on Monday, December 4th. They set a “neutral” rating on the stock. Raymond James Financial reissued a “market perform” rating on shares of Advance Auto Parts in a research report on Wednesday, October 4th. Citigroup lowered Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, October 4th. Finally, Jefferies Group reduced their price target on Advance Auto Parts from $130.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $106.32.

Advance Auto Parts (NYSE AAP) opened at $107.05 on Thursday. The firm has a market capitalization of $7,910.00, a PE ratio of 22.44, a PEG ratio of 1.68 and a beta of 1.00. Advance Auto Parts has a 52 week low of $78.81 and a 52 week high of $177.50. The company has a quick ratio of 0.32, a current ratio of 1.52 and a debt-to-equity ratio of 0.32.

Several institutional investors have recently made changes to their positions in AAP. Wells Fargo & Company MN raised its position in shares of Advance Auto Parts by 78.0% during the second quarter. Wells Fargo & Company MN now owns 884,760 shares of the company’s stock worth $103,155,000 after purchasing an additional 387,673 shares during the period. Vanguard Group Inc. raised its position in shares of Advance Auto Parts by 2.7% during the second quarter. Vanguard Group Inc. now owns 6,966,176 shares of the company’s stock worth $812,186,000 after purchasing an additional 185,970 shares during the period. State of Wisconsin Investment Board raised its position in shares of Advance Auto Parts by 6.4% during the third quarter. State of Wisconsin Investment Board now owns 67,873 shares of the company’s stock worth $6,733,000 after purchasing an additional 4,066 shares during the period. PointState Capital LP acquired a new stake in shares of Advance Auto Parts during the second quarter worth $16,358,000. Finally, Tredje AP fonden acquired a new stake in shares of Advance Auto Parts during the third quarter worth $1,395,000.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Advance Auto Parts’s dividend payout ratio (DPR) is 5.03%.

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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.

Earnings History and Estimates for Advance Auto Parts (NYSE:AAP)

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