Equities analysts expect Advance Auto Parts, Inc. (NYSE:AAP) to report $2.36 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Advance Auto Parts’ earnings, with the lowest sales estimate coming in at $2.33 billion and the highest estimate coming in at $2.38 billion. Advance Auto Parts reported sales of $2.33 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.3%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, August 13th.
On average, analysts expect that Advance Auto Parts will report full year sales of $9.75 billion for the current financial year, with estimates ranging from $9.70 billion to $9.80 billion. For the next year, analysts expect that the business will report sales of $10.01 billion, with estimates ranging from $9.81 billion to $10.17 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.10. Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The company’s revenue was up 2.7% on a year-over-year basis.
Several research analysts have recently commented on AAP shares. Wedbush set a $9.00 price target on shares of GameStop and gave the stock a “buy” rating in a research note on Thursday, July 11th. Northcoast Research restated a “neutral” rating on shares of Advance Auto Parts in a research note on Thursday, June 27th. Citigroup dropped their price target on shares of GrafTech International from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Wells Fargo & Co restated a “hold” rating and set a $175.00 price target on shares of Advance Auto Parts in a research note on Wednesday, May 22nd. Finally, Goldman Sachs Group upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. Advance Auto Parts currently has an average rating of “Buy” and a consensus price target of $189.33.
Shares of NYSE:AAP traded up $2.59 during trading on Friday, reaching $152.62. The company had a trading volume of 881,135 shares, compared to its average volume of 1,160,450. Advance Auto Parts has a twelve month low of $139.40 and a twelve month high of $186.15. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.67 and a beta of 0.90. The business’s fifty day moving average is $155.63. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.31.
The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 21st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, June 20th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.37%.
A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. raised its stake in shares of Advance Auto Parts by 26.7% in the 1st quarter. American Century Companies Inc. now owns 1,454,058 shares of the company’s stock valued at $247,961,000 after buying an additional 306,824 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Advance Auto Parts by 228.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,398,815 shares of the company’s stock worth $238,540,000 after purchasing an additional 973,543 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Advance Auto Parts by 114.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,209,134 shares of the company’s stock worth $206,194,000 after purchasing an additional 644,911 shares in the last quarter. Millennium Management LLC increased its position in Advance Auto Parts by 33.9% in the 4th quarter. Millennium Management LLC now owns 1,133,535 shares of the company’s stock valued at $178,486,000 after acquiring an additional 286,679 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Advance Auto Parts by 14.2% in the 4th quarter. Geode Capital Management LLC now owns 994,692 shares of the company’s stock valued at $156,363,000 after acquiring an additional 124,055 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.
Advance Auto Parts Company Profile
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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