Advance Auto Parts (NYSE:AAP) Issues FY 2024 Earnings Guidance

Advance Auto Parts (NYSE:AAP) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.600-0.000 for the period, compared to the consensus earnings per share estimate of 1.670. The company issued revenue guidance of $9.0 billion-$9.0 billion, compared to the consensus revenue estimate of $9.7 billion. Advance Auto Parts also updated its FY 2025 guidance to EPS.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AAP. Mizuho restated a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. JPMorgan Chase & Co. dropped their target price on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price target on the stock in a research report on Tuesday, October 15th. Roth Mkm reissued a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Finally, Truist Financial cut their target price on Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.08.

Advance Auto Parts Trading Up 5.1 %

NYSE:AAP traded up $2.07 during trading hours on Thursday, hitting $43.01. 3,456,786 shares of the company were exchanged, compared to its average volume of 2,013,819. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 4,433.00, a price-to-earnings-growth ratio of 1.30 and a beta of 1.17. The company has a fifty day simple moving average of $39.05 and a 200 day simple moving average of $54.72.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 earnings per share. Sell-side analysts expect that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

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.