October 2, 2022

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Brokerages Anticipate Advance Auto Parts, Inc. (NYSE:AAP) to Announce $3.53 EPS

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Wall Street analysts forecast that Advance Auto Parts, Inc. (NYSE:AAPGet 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:AAPGet 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.

See Also

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

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