Advance Auto Parts (AAP) Scheduled to Post Quarterly Earnings on Wednesday

Advance Auto Parts (NYSE:AAPGet Free Report) is scheduled to release its earnings data before the market opens on Wednesday, February 28th. Analysts expect Advance Auto Parts to post earnings of $0.24 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Advance Auto Parts Stock Down 4.2 %

NYSE AAP opened at $61.81 on Wednesday. The firm has a market cap of $3.68 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.23 and a beta of 1.15. Advance Auto Parts has a one year low of $47.73 and a one year high of $149.17. The stock’s 50 day simple moving average is $63.26 and its 200 day simple moving average is $59.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.23 and a quick ratio of 0.27.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Bank of America lowered Advance Auto Parts from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $60.00 to $43.00 in a research report on Thursday, November 16th. Wells Fargo & Company decreased their price objective on Advance Auto Parts from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 13th. TheStreet upgraded Advance Auto Parts from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. William Blair reiterated a “market perform” rating on shares of Advance Auto Parts in a research report on Wednesday, December 13th. Finally, Morgan Stanley decreased their price objective on Advance Auto Parts from $75.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and a consensus price target of $72.41.

Read Our Latest Stock Analysis on Advance Auto Parts

Insider Buying and Selling

In other Advance Auto Parts news, EVP Kristen L. Soler acquired 500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were acquired at an average price of $55.60 per share, with a total value of $27,800.00. Following the purchase, the executive vice president now owns 12,697 shares of the company’s stock, valued at approximately $705,953.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Kristen L. Soler bought 500 shares of the stock in a transaction on Friday, December 8th. The stock was purchased at an average price of $55.60 per share, for a total transaction of $27,800.00. Following the acquisition, the executive vice president now owns 12,697 shares in the company, valued at $705,953.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kristen L. Soler bought 1,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were purchased at an average price of $52.87 per share, with a total value of $52,870.00. Following the acquisition, the executive vice president now owns 12,197 shares in the company, valued at approximately $644,855.39. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advance Auto Parts

A number of large investors have recently added to or reduced their stakes in AAP. Price T Rowe Associates Inc. MD increased its holdings in Advance Auto Parts by 53.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,958,241 shares of the company’s stock worth $241,573,000 after purchasing an additional 1,370,550 shares in the last quarter. State Street Corp increased its holdings in Advance Auto Parts by 28.2% during the 1st quarter. State Street Corp now owns 3,431,787 shares of the company’s stock worth $417,340,000 after purchasing an additional 754,027 shares in the last quarter. Norges Bank bought a new position in Advance Auto Parts during the 4th quarter worth about $97,170,000. Clearline Capital LP bought a new position in Advance Auto Parts during the 2nd quarter worth about $40,014,000. Finally, Ameriprise Financial Inc. increased its holdings in Advance Auto Parts by 224.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 636,033 shares of the company’s stock worth $35,573,000 after purchasing an additional 440,192 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

About Advance Auto Parts

(Get Free Report)

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.

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Earnings History for Advance Auto Parts (NYSE:AAP)

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