Advance Auto Parts, Inc. to Post FY2022 Earnings of $12.55 Per Share, Wedbush Forecasts (NYSE:AAP)

Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) – Equities research analysts at Wedbush cut their FY2022 earnings per share estimates for Advance Auto Parts in a research note issued on Thursday, January 12th. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of $12.55 for the year, down from their previous forecast of $12.65. Wedbush has a “Neutral” rating and a $145.00 price objective on the stock. The consensus estimate for Advance Auto Parts’ current full-year earnings is $12.60 per share.

Advance Auto Parts (NYSE:AAP – Get Rating) last posted its quarterly earnings data on Tuesday, November 15th. The company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.66 billion. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%.

AAP has been the topic of a number of other reports. StockNews.com lowered Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, December 21st. Stephens dropped their price objective on Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating on the stock in a research note on Monday, November 21st. Guggenheim lowered Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Thursday, November 17th. DA Davidson lowered their price target on Advance Auto Parts from $200.00 to $170.00 in a research note on Thursday, November 17th. Finally, Wells Fargo & Company lowered their price target on Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 5th. Ten equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $190.00.

Advance Auto Parts Trading Down 0.8 %

Advance Auto Parts stock opened at $151.03 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.23 and a current ratio of 1.13. The business’s 50-day simple moving average is $152.77 and its 200-day simple moving average is $170.70. The firm has a market capitalization of $9.08 billion, a PE ratio of 19.41, a PEG ratio of 0.91 and a beta of 1.15. Advance Auto Parts has a 52 week low of $138.52 and a 52 week high of $242.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd boosted 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 in the last quarter. Ellevest Inc. raised its position 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 purchasing an additional 124 shares during the last quarter. First Personal Financial Services raised 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 worth $35,000 after purchasing an additional 119 shares during the last quarter. Private Trust Co. NA bought a new position in Advance Auto Parts in the 2nd quarter worth approximately $36,000. Finally, Rosenberg Matthew Hamilton bought a new position in Advance Auto Parts in the 2nd quarter worth approximately $38,000. 96.04% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, December 15th. Advance Auto Parts’s payout ratio is currently 77.12%.

Advance Auto Parts Company Profile

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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.