Advance Auto Parts, Inc. (NYSE:AAP) Expected to Post Q1 2024 Earnings of $0.69 Per Share

Advance Auto Parts, Inc. (NYSE:AAPFree Report) – Research analysts at William Blair issued their Q1 2024 EPS estimates for Advance Auto Parts in a note issued to investors on Thursday, February 29th. William Blair analyst P. Blee forecasts that the company will post earnings per share of $0.69 for the quarter. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Advance Auto Parts’ current full-year earnings is $3.84 per share. William Blair also issued estimates for Advance Auto Parts’ Q2 2024 earnings at $1.40 EPS, Q3 2024 earnings at $1.34 EPS, Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $3.80 EPS and FY2025 earnings at $4.15 EPS.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Truist Financial lifted their price objective on shares of Advance Auto Parts from $53.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Royal Bank of Canada boosted their price objective on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. The Goldman Sachs Group dropped their price objective on shares of Advance Auto Parts from $83.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. Finally, UBS Group cut their price target on shares of Advance Auto Parts from $75.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.88.

Check Out Our Latest Stock Report on Advance Auto Parts

Advance Auto Parts Price Performance

NYSE:AAP opened at $69.66 on Monday. Advance Auto Parts has a 52 week low of $47.73 and a 52 week high of $139.23. The company has a quick ratio of 0.29, a current ratio of 1.20 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average is $63.85 and its two-hundred day moving average is $59.53. The company has a market capitalization of $4.14 billion, a P/E ratio of 94.14, a P/E/G ratio of 1.29 and a beta of 1.14.

Advance Auto Parts (NYSE:AAPGet Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Advance Auto Parts had a return on equity of 1.68% and a net margin of 0.39%. Advance Auto Parts’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 EPS.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, April 11th. Advance Auto Parts’s dividend payout ratio is presently 135.14%.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, EVP Kristen L. Soler acquired 500 shares of the stock in a transaction dated Friday, December 8th. The stock was acquired at an average cost of $55.60 per share, with a total value of $27,800.00. Following the transaction, the executive vice president now owns 12,697 shares in the company, valued at approximately $705,953.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of Advance Auto Parts

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its holdings in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after acquiring an additional 83 shares during the last quarter. Clear Street Markets LLC raised its stake in Advance Auto Parts by 245.9% in the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its stake in Advance Auto Parts by 469.4% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 353 shares of the company’s stock valued at $52,000 after purchasing an additional 291 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in Advance Auto Parts in the 2nd quarter valued at about $28,000. Finally, Allworth Financial LP raised its stake in Advance Auto Parts by 190.0% in the 4th quarter. Allworth Financial LP now owns 406 shares of the company’s stock valued at $25,000 after purchasing an additional 266 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

About Advance Auto Parts

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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 and Estimates for Advance Auto Parts (NYSE:AAP)

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