Advance Auto Parts (AAP) Set to Announce Quarterly Earnings on Thursday

Advance Auto Parts (NYSE:AAP) is scheduled to be releasing its earnings data before the market opens on Thursday, November 14th. Analysts expect Advance Auto Parts to post earnings of $0.55 per share for the quarter. Advance Auto Parts has set its FY24 guidance at 2.00-2.50 EPS and its FY 2024 guidance at 2.000-2.500 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 EPS. On average, analysts expect Advance Auto Parts to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Advance Auto Parts Stock Down 1.6 %

AAP stock opened at $39.91 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The firm has a market capitalization of $2.38 billion, a PE ratio of 3,990.50, a P/E/G ratio of 1.24 and a beta of 1.17. The company’s 50 day simple moving average is $39.08 and its 200-day simple moving average is $54.82.

Wall Street Analyst Weigh In

Several research firms have weighed in on AAP. Roth Capital raised Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Truist Financial dropped their price objective on Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Mizuho restated a “neutral” rating and issued a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Roth Mkm reiterated a “neutral” rating and set a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.08.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company 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.