Wall Street analysts predict that Advance Auto Parts, Inc. (NYSE:AAP) will announce $1.14 earnings per share (EPS) for the current quarter, according to Zacks. Eight analysts have provided estimates for Advance Auto Parts’ earnings, with estimates ranging from $1.08 to $1.21. Advance Auto Parts reported earnings of $0.77 per share in the same quarter last year, which would indicate a positive year over year growth rate of 48.1%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, February 19th.

On average, analysts expect that Advance Auto Parts will report full year earnings of $7.10 per share for the current financial year, with EPS estimates ranging from $7.05 to $7.17. For the next financial year, analysts expect that the business will report earnings of $8.20 per share, with EPS estimates ranging from $7.90 to $8.88. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Tuesday, November 13th. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.75 by $0.14. Advance Auto Parts had a net margin of 5.83% and a return on equity of 13.99%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America raised shares of Advance Auto Parts from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Barclays raised shares of Advance Auto Parts from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $170.00 to $205.00 in a research note on Monday, January 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Advance Auto Parts currently has an average rating of “Buy” and a consensus price target of $183.06.

Shares of NYSE AAP traded up $1.25 during mid-day trading on Friday, hitting $169.99. The stock had a trading volume of 1,379,251 shares, compared to its average volume of 1,259,581. The company has a quick ratio of 0.49, a current ratio of 1.62 and a debt-to-equity ratio of 0.29. Advance Auto Parts has a 1 year low of $102.15 and a 1 year high of $186.15. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 1.50 and a beta of 1.04.

Hedge funds have recently made changes to their positions in the company. Legacy Financial Advisors Inc. bought a new stake in shares of Advance Auto Parts during the 4th quarter valued at $38,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Advance Auto Parts by 38.2% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 329 shares of the company’s stock worth $52,000 after purchasing an additional 91 shares in the last quarter. Enlightenment Research LLC bought a new position in Advance Auto Parts in the 4th quarter worth about $79,000. NINE MASTS CAPITAL Ltd bought a new position in Advance Auto Parts in the 3rd quarter worth about $164,000. Finally, ClariVest Asset Management LLC bought a new position in Advance Auto Parts in the 3rd quarter worth about $173,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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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