Q2 2024 EPS Estimates for Advance Auto Parts, Inc. Decreased by William Blair (NYSE:AAP)

Advance Auto Parts, Inc. (NYSE:AAPFree Report) – Stock analysts at William Blair lowered their Q2 2024 earnings per share estimates for shares of Advance Auto Parts in a research note issued to investors on Wednesday, May 29th. William Blair analyst P. Blee now forecasts that the company will post earnings per share of $0.94 for the quarter, down from their prior forecast of $1.40. The consensus estimate for Advance Auto Parts’ current full-year earnings is $3.76 per share. William Blair also issued estimates for Advance Auto Parts’ Q4 2024 earnings at $0.70 EPS.

Advance Auto Parts (NYSE:AAPGet Free Report) last issued its earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the business posted $0.72 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year.

Several other research analysts also recently commented on the company. StockNews.com raised Advance Auto Parts from a “sell” rating to a “hold” rating in a report on Thursday. Barclays lifted their target price on Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. UBS Group lifted their target price on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Finally, Evercore ISI lowered their price objective on Advance Auto Parts from $80.00 to $72.00 and set an “in-line” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.87.

Read Our Latest Research Report on Advance Auto Parts

Advance Auto Parts Stock Up 5.5 %

Shares of AAP opened at $70.64 on Monday. The company has a market capitalization of $4.21 billion, a PE ratio of 102.38, a PEG ratio of 1.33 and a beta of 1.20. Advance Auto Parts has a 12 month low of $47.73 and a 12 month high of $112.57. The stock’s 50-day moving average price is $75.62 and its two-hundred day moving average price is $67.89. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 0.70.

Hedge Funds Weigh In On Advance Auto Parts

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP boosted its stake in shares of Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock worth $25,000 after buying an additional 266 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Advance Auto Parts in the 4th quarter worth approximately $27,000. Hexagon Capital Partners LLC boosted its stake in shares of Advance Auto Parts by 267.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after buying an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Advance Auto Parts in the 1st quarter worth approximately $34,000. Finally, Quarry LP boosted its stake in shares of Advance Auto Parts by 285.7% in the 4th quarter. Quarry LP now owns 702 shares of the company’s stock worth $43,000 after buying an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Insider Buying and Selling at Advance Auto Parts

In related news, Director Brent Windom purchased 4,700 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was acquired at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $853,400. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Advance Auto Parts news, EVP Herman L. Word, Jr. sold 1,858 shares of Advance Auto Parts stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $86.08, for a total transaction of $159,936.64. Following the completion of the transaction, the executive vice president now owns 10,448 shares in the company, valued at approximately $899,363.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brent Windom bought 4,700 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was acquired at an average price of $85.34 per share, for a total transaction of $401,098.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $853,400. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 144.93%.

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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