Advance Auto Parts, Inc. (NYSE:AAP) Expected to Announce Earnings of $3.48 Per Share

Equities research analysts expect Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) to report earnings of $3.48 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Advance Auto Parts’ earnings, with estimates ranging from $2.61 to $3.77. Advance Auto Parts posted earnings of $3.34 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.2%. The firm is expected to issue its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Advance Auto Parts will report full year earnings of $13.76 per share for the current fiscal year, with EPS estimates ranging from $13.50 to $14.14. For the next financial year, analysts anticipate that the company will post earnings of $15.78 per share, with EPS estimates ranging from $14.79 to $16.68. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Advance Auto Parts.

AAP has been the topic of a number of research reports. StockNews.com raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley upped their target price on Advance Auto Parts from $235.00 to $240.00 and gave the company an “equal weight” rating in a report 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 target price for the company. Royal Bank of Canada began coverage on Advance Auto Parts in a report on Thursday, January 27th. They issued a “sector perform” rating and a $239.00 target price for the company. Finally, Citigroup dropped their price objective on Advance Auto Parts from $294.00 to $250.00 in a research note on Friday, May 13th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $254.81.

Several large investors have recently made changes to their positions in the company. Sawtooth Solutions LLC bought a new position in shares of Advance Auto Parts during the first quarter valued at about $274,000. Toroso Investments LLC bought a new position in shares of Advance Auto Parts during the first quarter valued at about $271,000. Golden State Equity Partners bought a new position in shares of Advance Auto Parts during the first quarter valued at about $656,000. Worldquant Millennium Advisors LLC grew its stake in shares of Advance Auto Parts by 603.6% during the first quarter. Worldquant Millennium Advisors LLC now owns 114,693 shares of the company’s stock valued at $23,737,000 after buying an additional 98,391 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its stake in shares of Advance Auto Parts by 636.4% during the first quarter. Wealthfront Advisers LLC now owns 12,268 shares of the company’s stock valued at $2,539,000 after buying an additional 10,602 shares during the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

AAP stock traded down $14.18 during trading on Friday, reaching $181.89. 1,918,845 shares of the stock were exchanged, compared to its average volume of 847,599. The firm’s 50 day moving average is $211.22 and its 200 day moving average is $221.83. Advance Auto Parts has a twelve month low of $176.72 and a twelve month high of $244.55. The company has a current ratio of 1.21, a quick ratio of 0.31 and a debt-to-equity ratio of 0.33. The firm has a market cap of $11.11 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.22.

Advance Auto Parts Company Profile (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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