Advance Auto Parts Inc (NYSE:AAP) – Investment analysts at Northcoast Research lowered their FY2017 EPS estimates for shares of Advance Auto Parts in a research note issued on Thursday, according to Zacks Investment Research. Northcoast Research analyst N. Mitchell now forecasts that the company will earn $5.25 per share for the year, down from their prior forecast of $5.32. Northcoast Research also issued estimates for Advance Auto Parts’ Q4 2017 earnings at $0.64 EPS, Q2 2018 earnings at $1.78 EPS, Q3 2018 earnings at $1.59 EPS and FY2018 earnings at $6.30 EPS.
AAP has been the subject of a number of other research reports. BTIG Research reissued a “sell” rating and issued a $75.00 target price (down previously from $90.00) on shares of Advance Auto Parts in a report on Wednesday, October 25th. Zacks Investment Research raised Advance Auto Parts from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Jefferies Group reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Advance Auto Parts in a research note on Tuesday, September 12th. Citigroup downgraded Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, October 4th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $87.50 price objective on shares of Advance Auto Parts in a research note on Tuesday, September 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $104.89.
Advance Auto Parts (NYSE:AAP) traded up $4.74 during mid-day trading on Friday, hitting $104.02. 2,225,108 shares of the stock were exchanged, compared to its average volume of 1,693,350. The company has a market capitalization of $7,690.00, a PE ratio of 17.70, a P/E/G ratio of 1.79 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.52 and a quick ratio of 0.32. Advance Auto Parts has a 52-week low of $78.81 and a 52-week high of $177.83.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, November 14th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.18. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Thursday, December 21st. Advance Auto Parts’s dividend payout ratio is presently 5.03%.
Large investors have recently added to or reduced their stakes in the business. Tobam acquired a new stake in Advance Auto Parts during the 2nd quarter valued at approximately $118,000. QS Investors LLC increased its position in Advance Auto Parts by 0.9% during the 2nd quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after purchasing an additional 9 shares during the period. Huntington National Bank increased its position in Advance Auto Parts by 37.1% during the 2nd quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after purchasing an additional 283 shares during the period. Global X Management Co. LLC increased its position in Advance Auto Parts by 14.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after purchasing an additional 139 shares during the period. Finally, IFP Advisors Inc increased its position in Advance Auto Parts by 57.5% during the 2nd quarter. IFP Advisors Inc now owns 1,208 shares of the company’s stock valued at $141,000 after purchasing an additional 441 shares during the period.
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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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