Analysts expect that Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) will post $3.38 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Advance Auto Parts’ earnings, with the highest sales estimate coming in at $3.47 billion and the lowest estimate coming in at $3.18 billion. Advance Auto Parts reported sales of $3.33 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.5%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Advance Auto Parts will report full-year sales of $11.42 billion for the current financial year, with estimates ranging from $11.25 billion to $11.63 billion. For the next fiscal year, analysts expect that the company will post sales of $11.89 billion, with estimates ranging from $11.60 billion to $12.19 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Advance Auto Parts.
Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings results on Monday, February 14th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.10. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.87 earnings per share.
A number of equities research analysts have recently commented on AAP shares. JPMorgan Chase & Co. upped their price objective on shares of Advance Auto Parts from $276.00 to $280.00 in a research note on Friday, February 11th. Royal Bank of Canada assumed coverage on shares of Advance Auto Parts in a research report on Thursday, January 27th. They set a “sector perform” rating and a $239.00 price target on the stock. StockNews.com raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Tuesday. Evercore ISI initiated coverage on Advance Auto Parts in a research report on Tuesday, February 15th. They set a “buy” rating and a $275.00 target price on the stock. Finally, Citigroup raised their target price on Advance Auto Parts from $290.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, February 16th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Buy” and a consensus price target of $256.65.
A number of institutional investors and hedge funds have recently modified their holdings of AAP. Central Bank & Trust Co. purchased a new position in Advance Auto Parts during the 1st quarter worth $29,000. Life Planning Partners Inc bought a new position in shares of Advance Auto Parts during the fourth quarter valued at about $30,000. First Horizon Advisors Inc. boosted its holdings in Advance Auto Parts by 423.5% during the third quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock worth $39,000 after purchasing an additional 216 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Advance Auto Parts during the first quarter worth about $41,000. Finally, GPS Wealth Strategies Group LLC bought a new position in shares of Advance Auto Parts in the first quarter valued at approximately $46,000. 98.99% of the stock is owned by hedge funds and other institutional investors.
NYSE:AAP opened at $200.49 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 1.21. Advance Auto Parts has a fifty-two week low of $187.16 and a fifty-two week high of $244.55. The company has a 50 day simple moving average of $211.33 and a two-hundred day simple moving average of $224.20. The company has a market capitalization of $12.25 billion, a PE ratio of 21.04, a P/E/G ratio of 1.14 and a beta of 1.22.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 18th were given a dividend of $1.50 per share. The ex-dividend date was Thursday, March 17th. This is an increase from Advance Auto Parts’s previous quarterly dividend of $1.00. This represents a $6.00 annualized dividend and a dividend yield of 2.99%. Advance Auto Parts’s payout ratio is presently 62.96%.
About Advance Auto Parts (Get Rating)
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.
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