Advance Auto Parts, Inc. (NYSE:AAP) Expected to Post Quarterly Sales of $3.38 Billion

Equities analysts expect Advance Auto Parts, Inc. (NYSE:AAPGet Rating) to report sales of $3.38 billion for the current quarter, according to Zacks. Eight analysts have made estimates for Advance Auto Parts’ earnings, with the highest sales estimate coming in at $3.47 billion and the lowest estimate coming in at $3.18 billion. Advance Auto Parts reported sales of $3.33 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.5%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Advance Auto Parts will report full year sales of $11.42 billion for the current fiscal year, with estimates ranging from $11.25 billion to $11.63 billion. For the next year, analysts expect that the firm will post sales of $11.89 billion, with estimates ranging from $11.60 billion to $12.19 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Advance Auto Parts.

Advance Auto Parts (NYSE:AAPGet Rating) last issued its quarterly earnings results on Monday, February 14th. The company reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.10. Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the previous year, the firm earned $1.87 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis.

A number of research firms have issued reports on AAP. Truist Financial assumed coverage on Advance Auto Parts in a research report on Thursday, January 13th. They issued a “buy” rating and a $273.00 target price for the company. Wells Fargo & Company lowered their price objective on Advance Auto Parts from $255.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 15th. Royal Bank of Canada began coverage on shares of Advance Auto Parts in a research report on Thursday, January 27th. They set a “sector perform” rating and a $239.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Advance Auto Parts from $276.00 to $280.00 in a report on Friday, February 11th. Finally, Morgan Stanley boosted their target price on shares of Advance Auto Parts from $235.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday, February 16th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $256.65.

Institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC raised its position in Advance Auto Parts by 19.6% during the 4th 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 last quarter. Geneos Wealth Management Inc. lifted its stake in Advance Auto Parts by 23.9% in the third quarter. Geneos Wealth Management Inc. now owns 259 shares of the company’s stock worth $53,000 after acquiring an additional 50 shares during the period. Mutual of America Capital Management LLC boosted its holdings in 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 acquiring an additional 50 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in Advance Auto Parts by 3.6% during the 3rd 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 raised its holdings in Advance Auto Parts by 4.0% in the 4th quarter. Profund Advisors LLC now owns 1,324 shares of the company’s stock worth $318,000 after purchasing an additional 51 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts stock opened at $200.49 on Tuesday. The firm has a 50 day moving average price of $211.33 and a 200-day moving average price of $224.20. The company has a quick ratio of 0.31, a current ratio of 1.21 and a debt-to-equity ratio of 0.33. Advance Auto Parts has a twelve month low of $187.16 and a twelve month high of $244.55. The company has a market capitalization of $12.25 billion, a P/E ratio of 21.04, a P/E/G ratio of 1.14 and a beta of 1.22.

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

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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