Advance Auto Parts (NYSE:AAP) Releases FY 2022 Earnings Guidance


Advance Auto Parts (NYSE:AAPGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $13.30-$13.85 for the period, compared to the consensus estimate of $13.70. The company issued revenue guidance of $11.20 billion-$11.50 billion, compared to the consensus revenue estimate of $11.40 billion.

NYSE AAP opened at $167.81 on Monday. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $10.18 billion, a P/E ratio of 18.69, a P/E/G ratio of 0.97 and a beta of 1.23. Advance Auto Parts has a 12-month low of $164.00 and a 12-month high of $244.55. The firm has a 50-day moving average price of $199.97 and a two-hundred day moving average price of $214.88.

Advance Auto Parts (NYSE:AAPGet Rating) last posted its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.39 billion. Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 EPS. Equities analysts expect that Advance Auto Parts will post 13.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Thursday, June 16th. Advance Auto Parts’s dividend payout ratio is currently 66.82%.

A number of brokerages have recently weighed in on AAP. Stephens cut their price target on shares of Advance Auto Parts from $246.00 to $215.00 and set an equal weight rating for the company in a report on Wednesday, May 25th. Royal Bank of Canada cut their price target on shares of Advance Auto Parts from $247.00 to $217.00 in a report on Wednesday, May 25th. Wells Fargo & Company cut their price target on shares of Advance Auto Parts from $230.00 to $200.00 and set an equal weight rating for the company in a report on Tuesday, May 24th. Wedbush cut their price target on shares of Advance Auto Parts from $270.00 to $215.00 and set an outperform rating for the company in a report on Tuesday, May 24th. Finally, Morgan Stanley cut their price target on shares of Advance Auto Parts from $240.00 to $225.00 and set an equal weight rating for the company in a report on Tuesday, May 24th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Advance Auto Parts has an average rating of Buy and a consensus target price of $244.94.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd increased its position in Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after acquiring an additional 83 shares during the period. Penserra Capital Management LLC increased its position in Advance Auto Parts by 19.6% in the 4th quarter. Penserra Capital Management LLC now owns 281 shares of the company’s stock valued at $67,000 after acquiring an additional 46 shares during the period. Virtu Financial LLC acquired a new position in Advance Auto Parts in the 1st quarter valued at approximately $209,000. Enlightenment Research LLC acquired a new position in Advance Auto Parts in the 1st quarter valued at approximately $212,000. Finally, Private Advisor Group LLC acquired a new position in Advance Auto Parts in the 1st quarter valued at approximately $232,000. Hedge funds and other institutional investors own 98.99% 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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Earnings History and Estimates for Advance Auto Parts (NYSE:AAP)



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Katherine T. Burrows

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