Brokers Issue Forecasts for Advance Auto Parts, Inc.’s FY2022 Earnings (NYSE:AAP)

Advance Auto Parts, Inc. (NYSE:AAPGet Rating) – Stock analysts at DA Davidson reduced their FY2022 earnings per share (EPS) estimates for Advance Auto Parts in a report issued on Thursday, November 17th. DA Davidson analyst M. Baker now expects that the company will earn $12.60 per share for the year, down from their previous forecast of $12.66. The consensus estimate for Advance Auto Parts’ current full-year earnings is $12.65 per share. DA Davidson also issued estimates for Advance Auto Parts’ Q4 2022 earnings at $2.42 EPS.

Advance Auto Parts (NYSE:AAPGet Rating) last issued its quarterly earnings data on Tuesday, August 23rd. The company reported $3.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.74. Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the company earned $3.40 earnings per share.

A number of other equities analysts have also recently weighed in on AAP. The Goldman Sachs Group lowered their target price on Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price objective on Advance Auto Parts from $200.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday. Morgan Stanley reduced their target price on Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday. UBS Group downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $230.00 to $182.00 in a research report on Wednesday. Finally, Raymond James cut their price target on shares of Advance Auto Parts from $210.00 to $200.00 and set a “strong-buy” rating on the stock in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $197.07.

Advance Auto Parts Price Performance

AAP opened at $147.50 on Friday. Advance Auto Parts has a twelve month low of $145.59 and a twelve month high of $244.55. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 0.98 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 0.25 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $171.75 and a 200 day simple moving average of $182.20.

Institutional Investors Weigh In On Advance Auto Parts

Several large investors have recently added to or reduced their stakes in AAP. Covestor Ltd increased its holdings in shares of Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after acquiring an additional 83 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Advance Auto Parts during the first quarter valued at approximately $35,000. Ellevest Inc. grew its holdings in Advance Auto Parts by 161.0% in the 2nd quarter. Ellevest Inc. now owns 201 shares of the company’s stock worth $35,000 after buying an additional 124 shares in the last quarter. First Personal Financial Services increased its position in Advance Auto Parts by 113.3% in the 3rd quarter. First Personal Financial Services now owns 224 shares of the company’s stock valued at $35,000 after acquiring an additional 119 shares during the period. Finally, Private Trust Co. NA bought a new stake in Advance Auto Parts during the 2nd quarter valued at $36,000. 99.47% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 16th will be given a dividend of $1.50 per share. The ex-dividend date is Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a yield of 4.07%. Advance Auto Parts’s dividend payout ratio is currently 77.12%.

About Advance Auto Parts

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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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Earnings History and Estimates for Advance Auto Parts (NYSE:AAP)

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