Wall Street analysts forecast that Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) will post earnings of $3.53 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Advance Auto Parts’ earnings, with the lowest EPS estimate coming in at $2.61 and the highest estimate coming in at $4.01. Advance Auto Parts posted earnings of $3.34 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 5.7%. The firm is expected to announce its next quarterly earnings results on Wednesday, June 1st.
On average, analysts expect that Advance Auto Parts will report full-year earnings of $13.69 per share for the current fiscal year, with EPS estimates ranging from $12.45 to $14.10. For the next financial year, analysts forecast that the firm will post earnings of $15.68 per share, with EPS estimates ranging from $13.50 to $16.60. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Advance Auto Parts.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings results on Monday, February 14th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.10. Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year.
Several equities research analysts recently weighed in on the stock. Royal Bank of Canada assumed coverage on shares of Advance Auto Parts in a report on Thursday, January 27th. They issued a “sector perform” rating and a $239.00 price objective for the company. Evercore ISI assumed coverage on shares of Advance Auto Parts in a report on Tuesday, February 15th. They issued a “buy” rating and a $275.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Advance Auto Parts from $255.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 15th. DA Davidson upped their price objective on shares of Advance Auto Parts from $250.00 to $260.00 in a report on Thursday, December 30th. Finally, Truist Financial assumed coverage on shares of Advance Auto Parts in a report on Thursday, January 13th. They issued a “buy” rating and a $273.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $252.39.
Shares of AAP opened at $206.34 on Friday. The company has a market cap of $12.61 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.30. The firm has a fifty day moving average of $219.40 and a 200-day moving average of $222.44. Advance Auto Parts has a 1 year low of $179.03 and a 1 year high of $244.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 1.21.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 1st. Shareholders of record on Friday, March 18th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, March 17th. This is an increase from Advance Auto Parts’s previous quarterly dividend of $1.00. Advance Auto Parts’s payout ratio is presently 41.97%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Advance Auto Parts by 1.4% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,813,940 shares of the company’s stock worth $796,694,000 after buying an additional 53,469 shares during the period. State Street Corp increased its holdings in shares of Advance Auto Parts by 2.6% in the 4th quarter. State Street Corp now owns 2,929,142 shares of the company’s stock valued at $705,541,000 after purchasing an additional 74,627 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Advance Auto Parts by 2.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,883,817 shares of the company’s stock valued at $451,890,000 after buying an additional 53,418 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Advance Auto Parts by 0.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,844,279 shares of the company’s stock valued at $385,251,000 after buying an additional 11,743 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Advance Auto Parts by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,160,841 shares of the company’s stock worth $241,847,000 after purchasing an additional 36,503 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.
About Advance Auto Parts (Get Rating)
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
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