$1.82 Earnings Per Share Expected for Advance Auto Parts, Inc. (NYSE:AAP) This Quarter

Analysts forecast that Advance Auto Parts, Inc. (NYSE:AAP) will announce earnings per share of $1.82 for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Advance Auto Parts’ earnings, with the highest EPS estimate coming in at $2.29 and the lowest estimate coming in at $1.24. Advance Auto Parts reported earnings per share of $2.00 during the same quarter last year, which would suggest a negative year over year growth rate of 9%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 11th.

On average, analysts expect that Advance Auto Parts will report full year earnings of $6.41 per share for the current year, with EPS estimates ranging from $5.29 to $7.04. For the next financial year, analysts expect that the business will report earnings of $8.45 per share, with EPS estimates ranging from $7.75 to $9.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, May 19th. The company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.84). Advance Auto Parts had a return on equity of 13.20% and a net margin of 4.10%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the prior year, the business earned $2.46 EPS. The company’s quarterly revenue was down 8.6% compared to the same quarter last year.

Several research analysts have weighed in on the company. UBS Group lifted their target price on Advance Auto Parts from $154.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Royal Bank of Canada lifted their target price on Advance Auto Parts from $136.00 to $155.00 in a research note on Wednesday, May 20th. Oppenheimer restated a “hold” rating on shares of Advance Auto Parts in a research note on Tuesday, May 19th. Wolfe Research upgraded Advance Auto Parts from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 25th. Finally, Guggenheim lifted their price target on Advance Auto Parts from $153.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $144.40.

Shares of AAP stock traded down $0.50 during midday trading on Thursday, hitting $141.95. The company had a trading volume of 709,400 shares, compared to its average volume of 1,107,642. The company’s 50 day simple moving average is $138.66 and its 200 day simple moving average is $131.54. Advance Auto Parts has a 52-week low of $71.33 and a 52-week high of $171.43. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.36 and a quick ratio of 0.42.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Saturday, June 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, June 11th. This represents a $1.00 annualized dividend and a yield of 0.70%. Advance Auto Parts’s dividend payout ratio is presently 12.21%.

In related news, CAO Andrew E. Page sold 720 shares of Advance Auto Parts stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $141.38, for a total transaction of $101,793.60. Following the completion of the transaction, the chief accounting officer now directly owns 7,008 shares of the company’s stock, valued at $990,791.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Advance Auto Parts by 151.5% in the first quarter. Royal Bank of Canada now owns 244,362 shares of the company’s stock worth $22,804,000 after acquiring an additional 147,206 shares during the last quarter. Running Oak Capital LLC raised its holdings in shares of Advance Auto Parts by 42.5% in the first quarter. Running Oak Capital LLC now owns 43,706 shares of the company’s stock worth $4,079,000 after acquiring an additional 13,036 shares during the last quarter. Optimal Asset Management Inc. raised its holdings in shares of Advance Auto Parts by 498.3% in the first quarter. Optimal Asset Management Inc. now owns 11,409 shares of the company’s stock worth $1,065,000 after acquiring an additional 9,502 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of Advance Auto Parts in the first quarter worth $4,457,000. Finally, APG Asset Management N.V. increased its stake in Advance Auto Parts by 85.6% in the first quarter. APG Asset Management N.V. now owns 96,771 shares of the company’s stock valued at $9,031,000 after purchasing an additional 44,635 shares during the last quarter. 96.85% of the stock is owned by institutional investors.

About Advance Auto Parts

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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