Advance Auto Parts (NYSE:AAP) – Wedbush issued their Q1 2019 earnings per share estimates for Advance Auto Parts in a report released on Tuesday, May 15th. Wedbush analyst S. Basham expects that the company will post earnings of $2.31 per share for the quarter. Wedbush has a “Buy” rating and a $130.00 price objective on the stock. Wedbush also issued estimates for Advance Auto Parts’ Q2 2019 earnings at $2.20 EPS, Q3 2019 earnings at $2.02 EPS and Q4 2019 earnings at $1.42 EPS.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.12. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis.

A number of other brokerages also recently commented on AAP. JPMorgan Chase boosted their price objective on shares of Advance Auto Parts from $110.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Zacks Investment Research raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a research report on Tuesday. Atlantic Securities raised shares of Advance Auto Parts from a “neutral” rating to an “overweight” rating and set a $140.00 price objective on the stock in a research report on Tuesday, May 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $125.00 price objective (up from $100.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Finally, Stephens reaffirmed a “hold” rating and set a $113.00 price objective (up from $58.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $115.33.

Shares of Advance Auto Parts opened at $119.03 on Wednesday, according to Marketbeat. Advance Auto Parts has a 52 week low of $119.19 and a 52 week high of $121.32. The company has a market cap of $9.00 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.34 and a beta of 1.05. The company has a current ratio of 1.56, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31.

In other news, insider Thomas Greco acquired 8,640 shares of Advance Auto Parts stock in a transaction dated Wednesday, March 21st. The stock was acquired at an average cost of $115.77 per share, for a total transaction of $1,000,252.80. Following the completion of the purchase, the insider now owns 135,081 shares of the company’s stock, valued at $15,638,327.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tammy M. Finley sold 342 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $116.35, for a total transaction of $39,791.70. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in shares of Advance Auto Parts by 50.5% in the first quarter. Franklin Resources Inc. now owns 5,144,383 shares of the company’s stock worth $609,873,000 after buying an additional 1,725,493 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Advance Auto Parts by 0.9% in the first quarter. BlackRock Inc. now owns 4,538,370 shares of the company’s stock worth $538,024,000 after buying an additional 40,426 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Advance Auto Parts by 5.8% in the first quarter. Artisan Partners Limited Partnership now owns 3,685,527 shares of the company’s stock worth $436,919,000 after buying an additional 202,716 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Advance Auto Parts by 0.6% in the first quarter. Neuberger Berman Group LLC now owns 1,551,429 shares of the company’s stock worth $183,014,000 after buying an additional 9,866 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in Advance Auto Parts by 3.3% during the first quarter. Schroder Investment Management Group now owns 1,473,447 shares of the company’s stock worth $174,677,000 after acquiring an additional 46,943 shares during the period.

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.

Earnings History and Estimates for Advance Auto Parts (NYSE:AAP)

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