Brokerages Anticipate Advance Auto Parts, Inc. (AAP) Will Post Quarterly Sales of $2.02 Billion

Wall Street brokerages forecast that Advance Auto Parts, Inc. (NYSE:AAP) will report $2.02 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Advance Auto Parts’ earnings, with the lowest sales estimate coming in at $1.99 billion and the highest estimate coming in at $2.04 billion. Advance Auto Parts posted sales of $2.08 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.9%. The company is expected to issue its next quarterly earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that Advance Auto Parts will report full-year sales of $2.02 billion for the current fiscal year, with estimates ranging from $9.33 billion to $9.38 billion. For the next fiscal year, analysts forecast that the firm will report sales of $9.57 billion per share, with estimates ranging from $9.44 billion to $9.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, November 14th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.18. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.21 billion. Advance Auto Parts had a return on equity of 13.51% and a net margin of 3.75%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 earnings per share.

Several research firms recently commented on AAP. JPMorgan Chase & Co. upped their target price on Advance Auto Parts from $110.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Zacks Investment Research lowered Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Stephens set a $108.00 target price on Advance Auto Parts and gave the company a “hold” rating in a research note on Tuesday, January 16th. Morgan Stanley set a $120.00 price target on Advance Auto Parts and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Moffett Nathanson initiated coverage on Advance Auto Parts in a research note on Monday, December 4th. They set a “neutral” rating for the company. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $109.91.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Veritable L.P. boosted its position in shares of Advance Auto Parts by 0.3% in the second quarter. Veritable L.P. now owns 2,008 shares of the company’s stock worth $234,000 after buying an additional 6 shares during the period. QS Investors LLC boosted its position in shares of 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 period. Security National Bank of Sioux City Iowa IA boosted its position in shares of Advance Auto Parts by 1.1% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 6,107 shares of the company’s stock worth $712,000 after buying an additional 67 shares during the period. HighTower Advisors LLC boosted its position in shares of Advance Auto Parts by 1.7% in the second quarter. HighTower Advisors LLC now owns 5,370 shares of the company’s stock worth $626,000 after buying an additional 91 shares during the period. Finally, Thrivent Financial For Lutherans boosted its position in shares of Advance Auto Parts by 3.7% in the second quarter. Thrivent Financial For Lutherans now owns 2,810 shares of the company’s stock worth $328,000 after buying an additional 100 shares during the period.

Advance Auto Parts (NYSE AAP) traded down $4.07 during trading on Friday, reaching $109.86. The company had a trading volume of 1,273,799 shares, compared to its average volume of 1,310,000. The firm has a market capitalization of $8,120.00, a price-to-earnings ratio of 23.03, a P/E/G ratio of 1.88 and a beta of 1.14. Advance Auto Parts has a 52-week low of $78.81 and a 52-week high of $169.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.52 and a quick ratio of 0.32.

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

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