Wall Street brokerages predict that Advance Auto Parts, Inc. (NYSE:AAP) will announce $2.23 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Advance Auto Parts’ earnings. The highest sales estimate is $2.25 billion and the lowest is $2.21 billion. Advance Auto Parts posted sales of $2.18 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The firm is scheduled to report its next earnings report on Tuesday, November 13th.

According to Zacks, analysts expect that Advance Auto Parts will report full-year sales of $9.49 billion for the current fiscal year, with estimates ranging from $9.46 billion to $9.52 billion. For the next year, analysts anticipate that the firm will report sales of $9.66 billion, with estimates ranging from $9.56 billion to $9.82 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 14th. The company reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.11. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 13.43% and a net margin of 5.68%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share.

AAP has been the subject of several recent research reports. UBS Group reaffirmed a “buy” rating and set a $160.00 target price on shares of Advance Auto Parts in a report on Friday, June 22nd. Argus set a $155.00 target price on Advance Auto Parts and gave the company a “buy” rating in a report on Friday, July 6th. ValuEngine raised Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. Guggenheim set a $156.00 price objective on Advance Auto Parts and gave the stock a “buy” rating in a report on Friday, July 13th. Finally, Zacks Investment Research raised Advance Auto Parts from a “hold” rating to a “buy” rating and set a $162.00 price objective for the company in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $149.84.

In other news, Director Nigel Travis purchased 1,250 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was purchased at an average cost of $159.70 per share, with a total value of $199,625.00. Following the purchase, the director now owns 1,250 shares in the company, valued at approximately $199,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC lifted its position in shares of Advance Auto Parts by 1.7% during the 2nd quarter. Janus Henderson Group PLC now owns 20,914 shares of the company’s stock valued at $2,838,000 after acquiring an additional 357 shares during the last quarter. BB&T Corp lifted its position in shares of Advance Auto Parts by 16.7% during the 3rd quarter. BB&T Corp now owns 2,713 shares of the company’s stock valued at $457,000 after acquiring an additional 389 shares during the last quarter. Amalgamated Bank lifted its position in shares of Advance Auto Parts by 4.9% during the 2nd quarter. Amalgamated Bank now owns 9,760 shares of the company’s stock valued at $1,324,000 after acquiring an additional 455 shares during the last quarter. First Republic Investment Management Inc. lifted its position in shares of Advance Auto Parts by 17.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 3,111 shares of the company’s stock valued at $422,000 after acquiring an additional 470 shares during the last quarter. Finally, Glen Harbor Capital Management LLC lifted its position in shares of Advance Auto Parts by 8.1% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 6,800 shares of the company’s stock valued at $923,000 after acquiring an additional 510 shares during the last quarter.

Shares of NYSE:AAP traded up $2.14 during trading on Wednesday, hitting $164.33. 1,406,067 shares of the company traded hands, compared to its average volume of 989,936. The firm has a market capitalization of $12.02 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.89 and a beta of 1.18. Advance Auto Parts has a one year low of $78.81 and a one year high of $171.50. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.29.

The company also recently declared a quarterly dividend, which was paid on Friday, October 5th. Shareholders of record on Friday, September 21st were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Thursday, September 20th. Advance Auto Parts’s payout ratio is currently 4.47%.

Advance Auto Parts declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 14th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the company to purchase up to 5.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

About Advance Auto Parts

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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