Advance Auto Parts, Inc. (NYSE:AAP) Expected to Post Earnings of $3.53 Per Share

Wall Street brokerages expect Advance Auto Parts, Inc. (NYSE:AAPGet Rating) to announce $3.53 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Advance Auto Parts’ earnings. The lowest EPS estimate is $2.61 and the highest is $4.01. Advance Auto Parts posted earnings per share of $3.34 during the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Advance Auto Parts will report full-year earnings of $13.78 per share for the current fiscal year, with EPS estimates ranging from $13.50 to $14.10. For the next year, analysts expect that the company will post earnings of $15.80 per share, with EPS estimates ranging from $14.79 to $16.60. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Advance Auto Parts.

Advance Auto Parts (NYSE:AAPGet Rating) last released its quarterly earnings data on Monday, February 14th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.37 billion. During the same period last year, the business earned $1.87 earnings per share. Advance Auto Parts’s revenue was up 1.3% compared to the same quarter last year.

A number of brokerages have recently commented on AAP. Morgan Stanley boosted their target price on shares of Advance Auto Parts from $235.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday, February 16th. Citigroup upped their price target on shares of Advance Auto Parts from $290.00 to $294.00 and gave the stock a “buy” rating in a research note on Wednesday, February 16th. JPMorgan Chase & Co. upped their price target on shares of Advance Auto Parts from $276.00 to $280.00 in a research note on Friday, February 11th. Truist Financial began coverage on shares of Advance Auto Parts in a research note on Thursday, January 13th. They issued a “buy” rating and a $273.00 price target on the stock. Finally, Royal Bank of Canada began coverage on shares of Advance Auto Parts in a research note on Thursday, January 27th. They issued a “sector perform” rating and a $239.00 price target on the stock. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Buy” and a consensus target price of $256.65.

Advance Auto Parts stock traded up $8.16 during mid-day trading on Friday, reaching $225.74. 1,088,064 shares of the company traded hands, compared to its average volume of 851,965. Advance Auto Parts has a 52-week low of $181.24 and a 52-week high of $244.55. The firm has a market capitalization of $13.79 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 1.24 and a beta of 1.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.21 and a quick ratio of 0.31. The firm’s 50 day moving average price is $213.40 and its 200 day moving average price is $223.39.

The firm also recently declared 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 of this dividend was Thursday, March 17th. This represents a $6.00 annualized dividend and a dividend yield of 2.66%. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $1.00. Advance Auto Parts’s dividend payout ratio is presently 62.96%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAP. FMR LLC increased its position in shares of Advance Auto Parts by 287.6% during the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock valued at $23,708,000 after purchasing an additional 103,160 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in Advance Auto Parts by 479.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 168 shares of the company’s stock worth $35,000 after acquiring an additional 139 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in Advance Auto Parts by 45.0% in the 3rd quarter. Gateway Investment Advisers LLC now owns 1,592 shares of the company’s stock worth $333,000 after acquiring an additional 494 shares in the last quarter. PGGM Investments increased its holdings in Advance Auto Parts by 1.1% in the 3rd quarter. PGGM Investments now owns 120,035 shares of the company’s stock worth $25,074,000 after acquiring an additional 1,251 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Advance Auto Parts by 1.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,854 shares of the company’s stock worth $1,711,000 after acquiring an additional 91 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

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

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Katherine T. Burrows

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