Advance Auto Parts, Inc. (NYSE:AAP) Expected to Announce Earnings of $2.08 Per Share

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Wall Street analysts forecast that Advance Auto Parts, Inc. (NYSE:AAP) will post $2.08 earnings per share for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Advance Auto Parts’ earnings, with the lowest EPS estimate coming in at $1.98 and the highest estimate coming in at $2.18. Advance Auto Parts posted earnings of $1.89 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.1%. The business is scheduled to announce its next earnings report on Tuesday, November 12th.

According to Zacks, analysts expect that Advance Auto Parts will report full-year earnings of $7.98 per share for the current financial year, with EPS estimates ranging from $7.79 to $8.30. For the next fiscal year, analysts forecast that the business will report earnings of $9.11 per share, with EPS estimates ranging from $8.19 to $9.90. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.22). Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm posted $1.97 EPS. The company’s revenue was up .2% compared to the same quarter last year.

AAP has been the subject of a number of analyst reports. UBS Group reduced their price target on Advance Auto Parts from $205.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday. Credit Suisse Group reduced their price target on Advance Auto Parts from $195.00 to $162.00 and set an “outperform” rating for the company in a research report on Wednesday. Morgan Stanley reduced their price target on Advance Auto Parts from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday. Northcoast Research reiterated a “neutral” rating on shares of Advance Auto Parts in a research report on Thursday, June 27th. Finally, Royal Bank of Canada reduced their price target on Advance Auto Parts to $178.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $183.38.

AAP stock traded down $0.91 during trading on Friday, reaching $136.59. 1,272,900 shares of the company’s stock were exchanged, compared to its average volume of 1,543,655. The company has a quick ratio of 0.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.76. Advance Auto Parts has a 1-year low of $130.09 and a 1-year high of $186.15. The company’s fifty day moving average price is $152.35 and its 200-day moving average price is $159.88. The firm has a market cap of $9.82 billion, a PE ratio of 19.16, a P/E/G ratio of 1.49 and a beta of 0.87.

Several institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Advance Auto Parts by 0.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,212 shares of the company’s stock worth $3,788,000 after purchasing an additional 66 shares during the period. Weik Capital Management raised its position in shares of Advance Auto Parts by 3.5% during the second quarter. Weik Capital Management now owns 2,200 shares of the company’s stock worth $339,000 after purchasing an additional 75 shares during the period. Trust Co. of Vermont raised its position in shares of Advance Auto Parts by 4.5% during the first quarter. Trust Co. of Vermont now owns 1,888 shares of the company’s stock worth $322,000 after purchasing an additional 81 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Advance Auto Parts by 1.0% during the first quarter. PNC Financial Services Group Inc. now owns 8,815 shares of the company’s stock worth $1,504,000 after purchasing an additional 84 shares during the period. Finally, Stephens Inc. AR raised its position in shares of Advance Auto Parts by 3.2% during the first quarter. Stephens Inc. AR now owns 2,969 shares of the company’s stock worth $506,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

About Advance Auto Parts

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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