$2.35 Billion in Sales Expected for Advance Auto Parts, Inc. (NYSE:AAP) This Quarter

Wall Street analysts expect that Advance Auto Parts, Inc. (NYSE:AAP) will announce sales of $2.35 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Advance Auto Parts’ earnings, with estimates ranging from $2.32 billion to $2.38 billion. Advance Auto Parts posted sales of $2.33 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.9%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, August 13th.

According to Zacks, analysts expect that Advance Auto Parts will report full year sales of $9.75 billion for the current financial year, with estimates ranging from $9.70 billion to $9.80 billion. For the next fiscal year, analysts expect that the firm will post sales of $10.00 billion, with estimates ranging from $9.81 billion to $10.17 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.10. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.94 billion. Advance Auto Parts had a return on equity of 15.23% and a net margin of 4.45%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 EPS.

A number of equities analysts have recently issued reports on AAP shares. Credit Suisse Group reissued a “buy” rating and set a $195.00 target price on shares of Advance Auto Parts in a research note on Tuesday, February 19th. Jefferies Financial Group cut their target price on Advance Auto Parts to $195.00 and set a “buy” rating for the company in a research note on Wednesday, February 20th. Wells Fargo & Co reissued a “hold” rating and set a $175.00 target price on shares of Advance Auto Parts in a research note on Wednesday, May 22nd. ValuEngine downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $190.71.

Shares of AAP stock traded down $1.63 during trading hours on Wednesday, reaching $150.54. 766,394 shares of the company’s stock were exchanged, compared to its average volume of 1,207,914. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.63 and a beta of 0.97. Advance Auto Parts has a 1 year low of $131.49 and a 1 year high of $186.15. The company has a current ratio of 1.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.79.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, June 20th. Advance Auto Parts’s dividend payout ratio is currently 3.37%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAP. Nelson Roberts Investment Advisors LLC acquired a new stake in shares of Advance Auto Parts in the 1st quarter worth approximately $40,000. Pinnacle Financial Partners Inc. acquired a new stake in shares of Advance Auto Parts in the 1st quarter worth approximately $43,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Advance Auto Parts by 38.2% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 329 shares of the company’s stock worth $52,000 after acquiring an additional 91 shares during the period. Zions Bancorporation N.A. grew its holdings in shares of Advance Auto Parts by 258.9% in the 1st quarter. Zions Bancorporation N.A. now owns 402 shares of the company’s stock worth $69,000 after acquiring an additional 290 shares during the period. Finally, Enlightenment Research LLC acquired a new stake in shares of Advance Auto Parts in the 4th quarter worth approximately $79,000. Institutional investors and hedge funds own 98.99% of the company’s stock.

Advance Auto Parts Company Profile

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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