Advance Auto Parts Inc (AAP) to Post Q3 2017 Earnings of $1.20 Per Share, Jefferies Group Forecasts
Advance Auto Parts Inc (NYSE:AAP) – Analysts at Jefferies Group dropped their Q3 2017 earnings per share estimates for Advance Auto Parts in a research note issued to investors on Wednesday. Jefferies Group analyst B. Jordan now anticipates that the company will post earnings of $1.20 per share for the quarter, down from their previous estimate of $1.34. Jefferies Group has a “Buy” rating and a $130.00 price objective on the stock. Jefferies Group also issued estimates for Advance Auto Parts’ FY2017 earnings at $5.27 EPS.
AAP has been the subject of several other research reports. Zacks Investment Research raised shares of Advance Auto Parts from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank AG reissued a “buy” rating and issued a $139.00 price target (down previously from $164.00) on shares of Advance Auto Parts in a research report on Friday, July 21st. Citigroup Inc. downgraded shares of Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, October 4th. Credit Suisse Group reissued an “outperform” rating and issued a $135.00 price target (down previously from $150.00) on shares of Advance Auto Parts in a research report on Monday, July 17th. Finally, Bank of America Corporation downgraded shares of Advance Auto Parts from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $150.00 to $90.00 in a research report on Friday, July 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $118.79.
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Shares of Advance Auto Parts (AAP) opened at 86.92 on Thursday. The stock’s 50 day moving average is $94.67 and its 200 day moving average is $116.31. The stock has a market capitalization of $6.42 billion, a PE ratio of 17.35 and a beta of 0.92. Advance Auto Parts has a 52 week low of $82.21 and a 52 week high of $177.83.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.07). Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Thursday, September 21st. Advance Auto Parts’s payout ratio is 4.80%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAP. Neuberger Berman Group LLC raised its stake in shares of Advance Auto Parts by 10.7% during the 1st quarter. Neuberger Berman Group LLC now owns 13,449 shares of the company’s stock worth $1,994,000 after purchasing an additional 1,296 shares during the period. Principal Financial Group Inc. raised its stake in shares of Advance Auto Parts by 1.3% during the 1st quarter. Principal Financial Group Inc. now owns 113,318 shares of the company’s stock worth $16,800,000 after purchasing an additional 1,447 shares during the period. Teachers Advisors LLC raised its stake in shares of Advance Auto Parts by 0.8% during the 1st quarter. Teachers Advisors LLC now owns 127,876 shares of the company’s stock worth $18,959,000 after purchasing an additional 962 shares during the period. Ngam Advisors L.P. raised its stake in shares of Advance Auto Parts by 27.1% during the 1st quarter. Ngam Advisors L.P. now owns 13,296 shares of the company’s stock worth $1,972,000 after purchasing an additional 2,832 shares during the period. Finally, Thrivent Financial For Lutherans raised its stake in shares of Advance Auto Parts by 6.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 2,710 shares of the company’s stock worth $402,000 after purchasing an additional 160 shares during the period.
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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