Analysts expect Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) to report $3.38 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Advance Auto Parts’ earnings, with the lowest sales estimate coming in at $3.18 billion and the highest estimate coming in at $3.47 billion. Advance Auto Parts reported sales of $3.33 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The company 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 fiscal year, with estimates ranging from $11.25 billion to $11.63 billion. For the next fiscal year, analysts anticipate that the company will report sales of $11.90 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 announced its quarterly earnings data on Monday, February 14th. The company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.97 by $0.10. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.37 billion. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.87 earnings per share.
AAP has been the subject of a number of recent research reports. Wells Fargo & Company cut their price target on Advance Auto Parts from $255.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 15th. DA Davidson lifted their price objective on Advance Auto Parts from $250.00 to $260.00 in a research report on Thursday, December 30th. Citigroup lifted their price objective on Advance Auto Parts from $290.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, February 16th. Truist Financial began coverage on Advance Auto Parts in a research report on Thursday, January 13th. They set a “buy” rating and a $273.00 price objective on the stock. Finally, Evercore ISI began coverage on Advance Auto Parts in a research report on Tuesday, February 15th. They set a “buy” rating and a $275.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Advance Auto Parts currently has a consensus rating of “Buy” and an average target price of $256.65.
NYSE AAP traded down $1.90 during trading hours on Monday, hitting $218.68. The company’s stock had a trading volume of 513,024 shares, compared to its average volume of 811,505. The company’s 50 day simple moving average is $212.28 and its two-hundred day simple moving average is $223.58. The company has a market cap of $13.36 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 1.25 and a beta of 1.29. Advance Auto Parts has a 12 month low of $187.16 and a 12 month high of $244.55. 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 also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 18th were paid a $1.50 dividend. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 17th. This represents a $6.00 dividend on an annualized basis and a yield of 2.74%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 62.96%.
A number of hedge funds have recently added to or reduced their stakes in AAP. FMR LLC increased its stake in Advance Auto Parts by 287.6% in the first quarter. FMR LLC now owns 139,025 shares of the company’s stock worth $23,708,000 after purchasing an additional 103,160 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Advance Auto Parts by 1.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,854 shares of the company’s stock valued at $1,711,000 after buying an additional 91 shares during the period. Spire Wealth Management increased its stake in shares of Advance Auto Parts by 35.8% during the third quarter. Spire Wealth Management now owns 660 shares of the company’s stock valued at $138,000 after buying an additional 174 shares during the period. Boston Trust Walden Corp increased its stake in shares of Advance Auto Parts by 0.9% during the third quarter. Boston Trust Walden Corp now owns 24,733 shares of the company’s stock valued at $5,166,000 after buying an additional 227 shares during the period. Finally, WINTON GROUP Ltd increased its stake in shares of Advance Auto Parts by 21.1% during the third quarter. WINTON GROUP Ltd now owns 6,717 shares of the company’s stock valued at $1,403,000 after buying an additional 1,172 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.
Advance Auto Parts Company Profile (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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