Advance Auto Parts, Inc. (AAP) to Post FY2017 Earnings of $5.20 Per Share, Wedbush Forecasts
Advance Auto Parts, Inc. (NYSE:AAP) – Equities researchers at Wedbush raised their FY2017 earnings estimates for shares of Advance Auto Parts in a report issued on Wednesday. Wedbush analyst S. Basham now forecasts that the company will post earnings per share of $5.20 for the year, up from their previous forecast of $5.19. Wedbush also issued estimates for Advance Auto Parts’ Q4 2017 earnings at $0.60 EPS, Q1 2018 earnings at $1.79 EPS, Q3 2018 earnings at $1.55 EPS and FY2018 earnings at $5.99 EPS.
A number of other equities research analysts also recently issued reports on AAP. Citigroup Inc. upped their price objective on Advance Auto Parts from $82.00 to $85.00 and gave the company a “sell” rating in a research report on Wednesday. Jefferies Group LLC decreased their price objective on Advance Auto Parts from $130.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays PLC restated an “equal weight” rating and set a $90.00 price objective (down from $93.00) on shares of Advance Auto Parts in a research report on Wednesday, August 16th. UBS AG restated a “buy” rating and set a $118.00 price objective (down from $155.00) on shares of Advance Auto Parts in a research report on Wednesday, August 16th. Finally, Morgan Stanley restated an “overweight” rating on shares of Advance Auto Parts in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $104.89.
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Shares of Advance Auto Parts (NYSE AAP) opened at $89.27 on Friday. Advance Auto Parts has a 52-week low of $78.81 and a 52-week high of $177.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 1.48. The stock has a market capitalization of $6,600.00, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.76 and a beta of 0.90.
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 company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.21 billion. Advance Auto Parts had a return on equity of 13.12% and a net margin of 4.40%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be paid 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 0.27%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 5.03%.
A number of large investors have recently made changes to their positions in AAP. Artisan Partners Limited Partnership grew its stake in Advance Auto Parts by 172.5% in the third quarter. Artisan Partners Limited Partnership now owns 2,922,315 shares of the company’s stock worth $289,894,000 after purchasing an additional 1,849,808 shares in the last quarter. BlackRock Inc. grew its stake in Advance Auto Parts by 25.6% in the second quarter. BlackRock Inc. now owns 5,425,799 shares of the company’s stock worth $632,593,000 after purchasing an additional 1,105,519 shares in the last quarter. ACR Alpine Capital Research LLC bought a new position in Advance Auto Parts in the third quarter worth approximately $91,021,000. Neuberger Berman Group LLC grew its stake in Advance Auto Parts by 6,616.2% in the second quarter. Neuberger Berman Group LLC now owns 903,258 shares of the company’s stock worth $105,311,000 after purchasing an additional 889,809 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in Advance Auto Parts by 279.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,147,414 shares of the company’s stock worth $133,777,000 after purchasing an additional 845,130 shares in the last quarter.
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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