Zacks: Brokerages Anticipate Advance Auto Parts, Inc. (NYSE:AAP) Will Announce Quarterly Sales of $2.32 Billion

Equities research analysts expect Advance Auto Parts, Inc. (NYSE:AAP) to post $2.32 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Advance Auto Parts’ earnings. The highest sales estimate is $2.47 billion and the lowest is $2.21 billion. Advance Auto Parts posted sales of $2.33 billion during the same quarter last year, which would indicate a negative year over year growth rate of 0.4%. The company is expected to issue its next earnings results on Tuesday, August 11th.

According to Zacks, analysts expect that Advance Auto Parts will report full-year sales of $9.59 billion for the current year, with estimates ranging from $9.36 billion to $9.75 billion. For the next fiscal year, analysts anticipate that the business will report sales of $9.81 billion, with estimates ranging from $9.67 billion to $9.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Advance Auto Parts.

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

A number of analysts have recently issued reports on AAP shares. Nomura increased their target price on Advance Auto Parts from $107.00 to $130.00 in a report on Wednesday, May 20th. Credit Suisse Group dropped their price target on shares of Advance Auto Parts from $175.00 to $133.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. TheStreet downgraded shares of Advance Auto Parts from a “b-” rating to a “c+” rating in a research note on Monday, March 16th. Royal Bank of Canada upped their price target on shares of Advance Auto Parts from $136.00 to $155.00 in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group upped their price target on shares of Advance Auto Parts from $151.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $144.40.

In other news, CAO Andrew E. Page sold 720 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $141.38, for a total value of $101,793.60. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.

Large investors have recently modified their holdings of the company. Amalgamated Bank grew its position in shares of Advance Auto Parts by 3.6% in the fourth quarter. Amalgamated Bank now owns 10,525 shares of the company’s stock valued at $1,686,000 after purchasing an additional 361 shares during the last quarter. Bank of America Corp DE grew its position in shares of Advance Auto Parts by 52.5% in the fourth quarter. Bank of America Corp DE now owns 1,132,971 shares of the company’s stock valued at $181,457,000 after purchasing an additional 390,256 shares during the last quarter. Heartland Advisors Inc. grew its position in shares of Advance Auto Parts by 37.0% in the fourth quarter. Heartland Advisors Inc. now owns 39,003 shares of the company’s stock valued at $6,247,000 after purchasing an additional 10,535 shares during the last quarter. Madison Wealth Management acquired a new stake in shares of Advance Auto Parts in the fourth quarter valued at about $344,000. Finally, Man Group plc grew its position in shares of Advance Auto Parts by 121.7% in the fourth quarter. Man Group plc now owns 35,293 shares of the company’s stock valued at $5,653,000 after purchasing an additional 19,376 shares during the last quarter. 96.85% of the stock is currently owned by institutional investors.

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

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

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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