Advance Auto Parts (NYSE:AAP) Posts Quarterly Earnings Results, Misses Estimates By $0.53 EPS

Advance Auto Parts (NYSE:AAP) issued its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53), Briefing.com reports. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the company earned ($0.82) earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year.

Advance Auto Parts Stock Performance

NYSE AAP traded down $3.51 on Friday, hitting $37.69. 5,899,565 shares of the company’s stock traded hands, compared to its average volume of 2,786,713. The firm’s 50-day moving average price is $39.02 and its two-hundred day moving average price is $54.24. The firm has a market capitalization of $2.25 billion, a PE ratio of 51.63 and a beta of 1.17. The company has a current ratio of 1.34, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 1-year low of $35.59 and a 1-year high of $88.56.

Advance Auto Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 136.99%.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target 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. Roth Mkm reissued a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Friday. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Finally, Truist Financial dropped their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.14.

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.