Equities Analysts Issue Forecasts for Advance Auto Parts, Inc.’s FY2021 Earnings (NYSE:AAP)

Advance Auto Parts, Inc. (NYSE:AAP) – Equities researchers at Wedbush issued their FY2021 earnings estimates for Advance Auto Parts in a report released on Wednesday, November 6th. Wedbush analyst S. Basham expects that the company will post earnings per share of $9.74 for the year. Wedbush has a “Outperform” rating and a $200.00 price objective on the stock.

A number of other equities analysts also recently commented on the stock. UBS Group boosted their price objective on shares of Advance Auto Parts from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. set a $222.00 price objective on shares of Advance Auto Parts and gave the stock a “buy” rating in a research note on Monday, August 12th. Zacks Investment Research raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a research note on Wednesday, July 31st. Raymond James assumed coverage on shares of Advance Auto Parts in a research note on Monday, October 7th. They issued a “market perform” rating for the company. Finally, Nomura assumed coverage on shares of Advance Auto Parts in a research note on Thursday. They issued a “neutral” rating and a $162.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $181.65.

NYSE:AAP traded down $1.88 during trading hours on Friday, reaching $167.40. The company’s stock had a trading volume of 1,227,425 shares, compared to its average volume of 1,135,218. The company has a market capitalization of $12.00 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. Advance Auto Parts has a 12 month low of $130.09 and a 12 month high of $186.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.36 and a current ratio of 1.36. The stock has a 50 day moving average price of $162.39 and a two-hundred day moving average price of $155.50.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.22). The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.36 billion. Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $1.97 EPS.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA boosted its holdings in Advance Auto Parts by 2.1% in the third quarter. Private Trust Co. NA now owns 3,634 shares of the company’s stock valued at $601,000 after purchasing an additional 74 shares during the last quarter. Weik Capital Management boosted its holdings in Advance Auto Parts by 3.5% in the second quarter. Weik Capital Management now owns 2,200 shares of the company’s stock valued at $339,000 after purchasing an additional 75 shares during the last quarter. Citizens Financial Group Inc RI boosted its holdings in Advance Auto Parts by 38.9% in the third quarter. Citizens Financial Group Inc RI now owns 307 shares of the company’s stock valued at $51,000 after purchasing an additional 86 shares during the last quarter. BB&T Corp boosted its holdings in Advance Auto Parts by 3.4% in the second quarter. BB&T Corp now owns 3,460 shares of the company’s stock valued at $533,000 after purchasing an additional 113 shares during the last quarter. Finally, CSat Investment Advisory L.P. boosted its holdings in Advance Auto Parts by 66.9% in the second quarter. CSat Investment Advisory L.P. now owns 292 shares of the company’s stock valued at $45,000 after purchasing an additional 117 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.

See Also: Market Timing

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

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