Equities Analysts Set Expectations for AAP FY2024 Earnings

Advance Auto Parts, Inc. (NYSE:AAP) – Roth Capital issued their FY2024 earnings per share estimates for shares of Advance Auto Parts in a report released on Tuesday, October 15th. Roth Capital analyst S. Stember anticipates that the company will earn $2.20 per share for the year. Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for Advance Auto Parts’ current full-year earnings is $2.19 per share. Roth Capital also issued estimates for Advance Auto Parts’ Q2 2025 earnings at $0.57 EPS and FY2025 earnings at $2.79 EPS.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share.

Several other equities analysts have also recently issued reports on the company. Evercore ISI reduced their price objective on Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating on the stock in a research note on Friday, August 23rd. Mizuho restated a “neutral” rating and set a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Truist Financial reduced their price objective on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. TD Cowen reduced their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Finally, Roth Mkm reiterated a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.36.

Advance Auto Parts Stock Performance

Shares of AAP opened at $39.82 on Friday. The business’s fifty day moving average price is $44.42 and its 200 day moving average price is $59.54. Advance Auto Parts has a 12-month low of $36.40 and a 12-month high of $88.56. The stock has a market capitalization of $2.37 billion, a PE ratio of 57.71, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Kovack Advisors Inc. increased its holdings in shares of Advance Auto Parts by 0.7% during the first quarter. Kovack Advisors Inc. now owns 22,727 shares of the company’s stock valued at $1,934,000 after purchasing an additional 150 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Advance Auto Parts by 28.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 895 shares of the company’s stock worth $76,000 after acquiring an additional 196 shares during the period. Diversified Trust Co grew its holdings in Advance Auto Parts by 3.5% during the second quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock worth $430,000 after acquiring an additional 232 shares during the period. OLD National Bancorp IN grew its holdings in Advance Auto Parts by 6.8% during the second quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after acquiring an additional 237 shares during the period. Finally, Hexagon Capital Partners LLC grew its holdings in Advance Auto Parts by 267.7% during the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after acquiring an additional 257 shares during the period. 88.75% of the stock is owned by institutional investors and hedge funds.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

About Advance Auto Parts

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.