Brokerages predict that Advance Auto Parts, Inc. (NYSE:AAP) will announce $2.12 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Advance Auto Parts’ earnings, with the highest sales estimate coming in at $2.14 billion and the lowest estimate coming in at $2.11 billion. Advance Auto Parts posted sales of $2.11 billion in the same quarter last year, which would suggest a positive year over year growth rate of 0.5%. The company is expected to announce its next earnings results before the market opens on Tuesday, February 18th.
According to Zacks, analysts expect that Advance Auto Parts will report full-year sales of $9.72 billion for the current financial year, with estimates ranging from $9.70 billion to $9.74 billion. For the next financial year, analysts expect that the business will post sales of $9.94 billion, with estimates ranging from $9.70 billion to $10.09 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Advance Auto Parts.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Advance Auto Parts had a return on equity of 15.61% and a net margin of 4.58%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year.
A number of brokerages have weighed in on AAP. Nomura reiterated a “hold” rating and issued a $160.00 price target (down from $162.00) on shares of Advance Auto Parts in a research report on Wednesday, November 13th. Morgan Stanley decreased their target price on Advance Auto Parts from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut Advance Auto Parts from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $168.00 to $163.00 in a report on Monday, January 13th. Wedbush decreased their target price on Advance Auto Parts to in a report on Monday, January 13th. Finally, Wells Fargo & Co decreased their target price on Advance Auto Parts from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $164.33.
NYSE:AAP traded down $1.08 during trading hours on Tuesday, reaching $133.59. The company had a trading volume of 1,122,549 shares, compared to its average volume of 1,025,553. The stock has a 50-day moving average of $146.02 and a two-hundred day moving average of $152.38. Advance Auto Parts has a one year low of $129.94 and a one year high of $182.56. The firm has a market capitalization of $9.05 billion, a PE ratio of 21.55, a PEG ratio of 1.34 and a beta of 0.88. The company has a quick ratio of 0.32, a current ratio of 1.31 and a debt-to-equity ratio of 0.79.
Hedge funds have recently made changes to their positions in the company. Pinnacle Financial Partners Inc. bought a new stake in shares of Advance Auto Parts during the fourth quarter worth $40,000. Aigen Investment Management LP bought a new position in Advance Auto Parts in the fourth quarter valued at about $44,000. Cullen Frost Bankers Inc. boosted its holdings in Advance Auto Parts by 3,687.5% in the third quarter. Cullen Frost Bankers Inc. now owns 303 shares of the company’s stock valued at $50,000 after acquiring an additional 295 shares during the last quarter. Citizens Financial Group Inc RI boosted its holdings in Advance Auto Parts by 38.9% in the third quarter. Citizens Financial Group Inc RI now owns 307 shares of the company’s stock valued at $51,000 after acquiring an additional 86 shares during the last quarter. Finally, Allred Capital Management LLC bought a new position in Advance Auto Parts in the fourth quarter valued at about $64,000.
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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