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Analysts Anticipate Advance Auto Parts Inc (AAP) to Post $1.24 EPS

Wall Street analysts forecast that Advance Auto Parts Inc (NYSE:AAP) will post earnings per share of $1.24 for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Advance Auto Parts’ earnings, with the lowest EPS estimate coming in at $1.14 and the highest estimate coming in at $1.51. Advance Auto Parts reported earnings of $1.73 per share during the same quarter last year, which indicates a negative year over year growth rate of 28.3%. The firm is scheduled to issue its next quarterly earnings report on Monday, November 13th.

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On average, analysts expect that Advance Auto Parts will report full-year earnings of $5.18 per share for the current financial year, with EPS estimates ranging from $4.75 to $5.80. For the next fiscal year, analysts anticipate that the company will report earnings of $6.25 per share, with EPS estimates ranging from $5.20 to $7.41. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 EPS.

A number of brokerages have issued reports on AAP. Barclays PLC reissued a “sell” rating and set a $120.00 target price on shares of Advance Auto Parts in a report on Friday, May 26th. Royal Bank Of Canada lowered their target price on shares of Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating on the stock in a report on Thursday, May 25th. UBS AG reissued a “buy” rating and set a $180.00 target price (down previously from $200.00) on shares of Advance Auto Parts in a report on Wednesday, May 17th. Bank of America Corporation lowered their target price on shares of Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating on the stock in a report on Thursday, May 25th. Finally, Jefferies Group LLC boosted their target price on shares of Advance Auto Parts to $150.00 and gave the company a “hold” rating in a report on Wednesday, June 28th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $124.03.

Hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc boosted its position in Advance Auto Parts by 3.2% during the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares during the period. Tobam purchased a new stake in Advance Auto Parts during the second quarter valued at about $118,000. QS Investors LLC boosted its position in Advance Auto Parts by 0.9% during the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after buying an additional 9 shares during the period. Huntington National Bank boosted its position in Advance Auto Parts by 37.1% during the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after buying an additional 283 shares during the period. Finally, Global X Management Co. LLC boosted its position in Advance Auto Parts by 14.3% during the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after buying an additional 139 shares during the period.

Shares of Advance Auto Parts (AAP) traded up 0.39% during midday trading on Friday, reaching $94.40. The company had a trading volume of 1,249,884 shares. The company has a 50 day moving average price of $101.45 and a 200-day moving average price of $128.12. The firm has a market capitalization of $6.97 billion, a P/E ratio of 18.85 and a beta of 0.90. Advance Auto Parts has a one year low of $82.21 and a one year high of $177.83.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.24 annualized dividend and a yield of 0.25%. Advance Auto Parts’s payout ratio is 4.80%.

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About Advance Auto Parts

Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.

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