Wedbush Weighs in on Advance Auto Parts’ Q1 2019 Earnings (AAP)

Advance Auto Parts (NYSE:AAP) – Equities research analysts at Wedbush issued their Q1 2019 earnings estimates for shares of Advance Auto Parts in a research note issued on Tuesday, May 15th. Wedbush analyst S. Basham expects that the company will earn $2.31 per share for the quarter. Wedbush has a “Buy” rating and a $130.00 price target 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.

A number of other analysts have also recently issued reports on the company. Stephens restated 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. JPMorgan Chase boosted their price objective on Advance Auto Parts from $110.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Robert W. Baird restated 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. Barclays restated an “equal weight” rating and set a $114.00 price objective (up from $105.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Finally, Guggenheim upgraded Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $131.00 price objective on the stock in a research report on Tuesday, April 17th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $115.33.

AAP opened at $119.79 on Wednesday. The company has a market cap of $8.87 billion, a PE ratio of 22.31, a PEG ratio of 1.32 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. Advance Auto Parts has a 1 year low of $119.19 and a 1 year high of $121.32.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. Advance Auto Parts had a return on equity of 12.45% and a net margin of 5.07%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share.

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

Institutional investors have recently made changes to their positions in the business. Balentine LLC bought a new stake in shares of Advance Auto Parts in the fourth quarter worth about $100,000. Stratos Wealth Partners LTD. grew its holdings in shares of Advance Auto Parts by 1,148.4% during the first quarter. Stratos Wealth Partners LTD. now owns 1,186 shares of the company’s stock worth $141,000 after buying an additional 1,091 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Advance Auto Parts by 71.6% during the fourth quarter. Assetmark Inc. now owns 1,488 shares of the company’s stock worth $148,000 after buying an additional 621 shares in the last quarter. IFM Investors Pty Ltd bought a new position in shares of Advance Auto Parts during the fourth quarter worth about $207,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Advance Auto Parts during the fourth quarter worth about $207,000.

Advance Auto Parts Company Profile

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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