Wall Street brokerages expect Advance Auto Parts Inc (NYSE:AAP) to announce sales of $2.22 billion for the current quarter, according to Zacks. Nine analysts have provided estimates for Advance Auto Parts’ earnings, with the highest sales estimate coming in at $2.27 billion and the lowest estimate coming in at $2.20 billion. Advance Auto Parts reported sales of $2.25 billion during 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 fiscal 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 research firms that cover Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the company earned $1.90 EPS. Advance Auto Parts’s revenue was up .3% compared to the same quarter last year.
AAP has been the topic of several research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $139.00 price objective (down previously from $164.00) on shares of Advance Auto Parts in a research report on Friday, July 21st. Jefferies Group LLC reiterated a “buy” rating and set a $130.00 target price on shares of Advance Auto Parts in a research report on Tuesday, September 12th. Credit Suisse Group reissued an “outperform” rating and set a $135.00 target price (down from $150.00) on shares of Advance Auto Parts in a research note on Monday, July 17th. Bank of America Corporation cut shares of Advance Auto Parts from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $150.00 to $90.00 in a report on Friday, July 7th. Finally, Wedbush restated an “outperform” rating on shares of Advance Auto Parts in a report on Thursday, July 6th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $123.08.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio lifted its holdings in shares of Advance Auto Parts by 0.7% during the 1st quarter. Strs Ohio now owns 3,955 shares of the company’s stock valued at $586,000 after purchasing an additional 28 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Advance Auto Parts by 148.1% in the 1st quarter. First Trust Advisors LP now owns 22,360 shares of the company’s stock worth $3,315,000 after purchasing an additional 13,347 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Advance Auto Parts by 10.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 188,241 shares of the company’s stock worth $27,909,000 after purchasing an additional 18,149 shares in the last quarter. Stevens Capital Management LP boosted its position in shares of Advance Auto Parts by 7.2% in the 1st quarter. Stevens Capital Management LP now owns 2,819 shares of the company’s stock worth $418,000 after purchasing an additional 190 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in shares of Advance Auto Parts by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 10,193 shares of the company’s stock worth $1,511,000 after purchasing an additional 118 shares in the last quarter.
Advance Auto Parts (AAP) traded down 0.30% during mid-day trading on Thursday, reaching $99.20. 1,878,241 shares of the company traded hands. 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 $7.33 billion, a P/E ratio of 19.80 and a beta of 0.90. The company’s 50 day moving average price is $99.61 and its 200 day moving average price is $125.12.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Advance Auto Parts’s payout ratio is 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Advance Auto Parts Inc Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Advance Auto Parts Inc and related companies with MarketBeat.com’s FREE daily email newsletter.