Advance Auto Parts Inc (NYSE:AAP) – Equities researchers at Oppenheimer dropped their FY2018 earnings per share (EPS) estimates for shares of Advance Auto Parts in a research report issued to clients and investors on Monday, Zacks Investment Research reports. Oppenheimer analyst B. Nagel now forecasts that the company will post earnings of $5.95 per share for the year, down from their previous forecast of $6.28. Oppenheimer has a “Hold” rating on the stock.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, November 14th. The company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.18. Advance Auto Parts had a return on equity of 13.51% and a net margin of 3.75%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the company earned $1.73 earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year.
Several other research analysts also recently commented on AAP. UBS reiterated a “buy” rating and set a $155.00 target price (down from $170.00) on shares of Advance Auto Parts in a research note on Monday, August 7th. Royal Bank Of Canada reduced their target price on Advance Auto Parts from $125.00 to $102.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 16th. Citigroup reduced their price target on Advance Auto Parts to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, August 16th. J P Morgan Chase & Co reduced their price target on Advance Auto Parts to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, August 16th. Finally, Atlantic Securities downgraded Advance Auto Parts from an “overweight” rating to a “neutral” rating and set a $93.00 price target for the company. in a research note on Wednesday, August 16th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $104.89.
Advance Auto Parts (AAP) opened at $99.28 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.32 and a current ratio of 1.52. Advance Auto Parts has a one year low of $78.81 and a one year high of $177.83. The company has a market capitalization of $7,463.70, a P/E ratio of 18.00, a PEG ratio of 1.82 and a beta of 0.98.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.24 annualized dividend and a yield of 0.24%. Advance Auto Parts’s dividend payout ratio is presently 5.03%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tobam acquired a new position in Advance Auto Parts in the 2nd quarter valued at $118,000. QS Investors LLC raised its holdings in Advance Auto Parts by 0.9% in the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after acquiring an additional 9 shares in the last quarter. Huntington National Bank raised its holdings in Advance Auto Parts by 37.1% in the 2nd quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after acquiring an additional 283 shares in the last quarter. Global X Management Co. LLC raised its holdings in Advance Auto Parts by 14.3% in the 2nd quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after acquiring an additional 139 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Advance Auto Parts by 57.5% in the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock valued at $141,000 after acquiring an additional 441 shares in the last quarter.
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Advance Auto Parts Company Profile
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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