Advance Auto Parts, Inc. (NYSE:AAP) Expected to Post Q1 2022 Earnings of $3.72 Per Share

Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) – Investment analysts at DA Davidson decreased their Q1 2022 earnings per share (EPS) estimates for shares of Advance Auto Parts in a research report issued on Monday, May 2nd. DA Davidson analyst M. Baker now anticipates that the company will post earnings of $3.72 per share for the quarter, down from their prior forecast of $3.97. DA Davidson also issued estimates for Advance Auto Parts’ FY2022 earnings at $13.63 EPS and FY2023 earnings at $15.88 EPS.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings data on Monday, February 14th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the business posted $1.87 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis.

A number of other research analysts also recently issued reports on the company. StockNews.com upgraded Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada started coverage on Advance Auto Parts in a research note on Thursday, January 27th. They issued a “sector perform” rating and a $239.00 target price on the stock. Morgan Stanley lifted their target price on Advance Auto Parts from $235.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 16th. Evercore ISI started coverage on Advance Auto Parts in a report on Tuesday, February 15th. They issued a “buy” rating and a $275.00 price target for the company. Finally, Citigroup raised their price target on Advance Auto Parts from $290.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, February 16th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $256.65.

AAP opened at $200.49 on Tuesday. Advance Auto Parts has a one year low of $187.16 and a one year high of $244.55. The company has a market cap of $12.25 billion, a P/E ratio of 21.04, a PEG ratio of 1.14 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 1.21. The business’s 50-day simple moving average is $211.33 and its 200-day simple moving average is $224.20.

The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 18th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.99%. This is a boost from Advance Auto Parts’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 17th. Advance Auto Parts’s payout ratio is 62.96%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAP. Penserra Capital Management LLC grew its position in shares of Advance Auto Parts by 19.6% in the fourth quarter. Penserra Capital Management LLC now owns 281 shares of the company’s stock valued at $67,000 after purchasing an additional 46 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Advance Auto Parts by 23.9% in the third quarter. Geneos Wealth Management Inc. now owns 259 shares of the company’s stock valued at $53,000 after purchasing an additional 50 shares during the period. Mutual of America Capital Management LLC grew its position in shares of Advance Auto Parts by 0.4% in the third quarter. Mutual of America Capital Management LLC now owns 11,905 shares of the company’s stock valued at $2,487,000 after purchasing an additional 50 shares during the period. Johnson Investment Counsel Inc. grew its position in shares of Advance Auto Parts by 3.6% in the third quarter. Johnson Investment Counsel Inc. now owns 1,422 shares of the company’s stock valued at $298,000 after purchasing an additional 50 shares during the period. Finally, Profund Advisors LLC grew its position in shares of Advance Auto Parts by 4.0% in the fourth quarter. Profund Advisors LLC now owns 1,324 shares of the company’s stock valued at $318,000 after purchasing an additional 51 shares during the period. 98.99% of the stock is owned by institutional investors.

About Advance Auto Parts (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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