What is Zacks Research’s Estimate for AAP FY2024 Earnings?

Advance Auto Parts, Inc. (NYSE:AAP) – Investment analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for shares of Advance Auto Parts in a report released on Tuesday, December 10th. Zacks Research analyst L. Shahu anticipates that the company will post earnings per share of ($0.52) for the year. The consensus estimate for Advance Auto Parts’ current full-year earnings is ($0.54) per share. Zacks Research also issued estimates for Advance Auto Parts’ Q4 2024 earnings at ($1.43) EPS, Q1 2025 earnings at $0.20 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $1.62 EPS, Q1 2026 earnings at $0.52 EPS, Q2 2026 earnings at $0.51 EPS, Q3 2026 earnings at $0.59 EPS and FY2026 earnings at $2.25 EPS.

Several other brokerages have also commented on AAP. Roth Mkm reissued a “neutral” rating and issued a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. Roth Capital raised Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. Truist Financial reduced their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Mizuho reaffirmed a “neutral” rating and set a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Finally, Royal Bank of Canada lowered their price target on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.40.

Advance Auto Parts Stock Performance

NYSE AAP opened at $43.86 on Friday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 60.08 and a beta of 1.21. The stock has a 50-day moving average of $40.24 and a 200 day moving average of $50.00. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a twelve month low of $35.59 and a twelve month high of $88.56.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.82) earnings per share.

Institutional Trading of Advance Auto Parts

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pzena Investment Management LLC grew its stake in shares of Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after purchasing an additional 1,698,155 shares during the last quarter. Dorsal Capital Management LP increased its stake in shares of Advance Auto Parts by 159.7% during the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock worth $79,162,000 after acquiring an additional 768,664 shares during the period. Dimensional Fund Advisors LP raised its holdings in Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after purchasing an additional 547,696 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Advance Auto Parts in the 3rd quarter valued at approximately $17,477,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Advance Auto Parts in the 3rd quarter valued at approximately $14,684,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

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.