Advance Auto Parts Inc (NYSE:AAP) – Investment analysts at Wedbush dropped their Q1 2018 earnings per share estimates for Advance Auto Parts in a research report issued to clients and investors on Wednesday. Wedbush analyst S. Basham now forecasts that the company will post earnings per share of $2.12 for the quarter, down from their prior forecast of $2.32. Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for Advance Auto Parts’ Q2 2018 earnings at $1.87 EPS.
A number of other research firms also recently issued reports on AAP. Bank of America Corporation cut their target price on shares of Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. Morgan Stanley reiterated an “overweight” rating and issued a $160.00 target price (down previously from $185.00) on shares of Advance Auto Parts in a research report on Sunday, May 28th. Gabelli upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Thursday, April 20th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Advance Auto Parts in a research report on Wednesday, May 31st. Finally, BTIG Research reiterated a “sell” rating and issued a $109.00 target price (down previously from $120.00) on shares of Advance Auto Parts in a research report on Thursday, June 22nd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $126.68.
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Advance Auto Parts (NYSE AAP) traded up 0.84% on Thursday, hitting $93.63. The stock had a trading volume of 953,074 shares. Advance Auto Parts has a 52-week low of $82.21 and a 52-week high of $177.83. The firm’s 50-day moving average is $105.73 and its 200-day moving average is $135.79. The company has a market cap of $6.91 billion, a P/E ratio of 18.69 and a beta of 0.87.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Advance Auto Parts’s payout ratio is presently 4.80%.
In other news, Director Adriana Karaboutis bought 367 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average cost of $135.28 per share, for a total transaction of $49,647.76. Following the purchase, the director now owns 3,043 shares of the company’s stock, valued at approximately $411,657.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brad W. Buss bought 1,200 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was purchased at an average price of $134.47 per share, for a total transaction of $161,364.00. Following the completion of the purchase, the director now directly owns 1,928 shares in the company, valued at approximately $259,258.16. The disclosure for this purchase can be found here. Insiders purchased a total of 369,462 shares of company stock worth $49,617,073 over the last quarter. 4.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc raised its position in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares during the last quarter. Tobam purchased a new position in Advance Auto Parts during the second quarter worth about $118,000. QS Investors LLC raised its position in Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after buying an additional 9 shares during the last quarter. Huntington National Bank raised its position in Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after buying an additional 283 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in Advance Auto Parts by 14.3% in the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock worth $130,000 after buying an additional 139 shares during the last quarter.
About Advance Auto Parts
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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