Advance Auto Parts Inc (AAP) Trading Up 1.3% After Earnings Beat
Shares of Advance Auto Parts Inc (NYSE:AAP) were up 1.3% during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $102.89 and last traded at $82.28. Approximately 3,894,400 shares changed hands during mid-day trading, an increase of 137% from the average daily volume of 1,644,828 shares. The stock had previously closed at $81.22.
The company reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.18. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.21 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.25%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.79%.
A number of research analysts recently issued reports on AAP shares. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Advance Auto Parts in a research note on Wednesday, October 4th. Credit Suisse Group AG set a $100.00 price target on Advance Auto Parts and gave the stock a “buy” rating in a research note on Wednesday, August 16th. BTIG Research restated a “sell” rating and issued a $75.00 price target (down from $90.00) on shares of Advance Auto Parts in a research note on Wednesday, October 25th. Deutsche Bank AG restated a “buy” rating and issued a $139.00 price target (down from $164.00) on shares of Advance Auto Parts in a research note on Friday, July 21st. Finally, Citigroup Inc. downgraded Advance Auto Parts from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $99.00 to $82.00 in a research note on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $116.44.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Advance Auto Parts by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,966,176 shares of the company’s stock valued at $812,186,000 after buying an additional 185,970 shares during the period. BlackRock Inc. raised its holdings in Advance Auto Parts by 25.6% during the 2nd quarter. BlackRock Inc. now owns 5,425,799 shares of the company’s stock valued at $632,593,000 after buying an additional 1,105,519 shares during the period. Artisan Partners Limited Partnership raised its holdings in Advance Auto Parts by 172.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,922,315 shares of the company’s stock valued at $289,894,000 after buying an additional 1,849,808 shares during the period. American Century Companies Inc. raised its holdings in Advance Auto Parts by 20.5% during the 3rd quarter. American Century Companies Inc. now owns 2,535,220 shares of the company’s stock valued at $251,494,000 after buying an additional 430,733 shares during the period. Finally, Scharf Investments LLC raised its holdings in Advance Auto Parts by 9.7% during the 3rd quarter. Scharf Investments LLC now owns 1,692,559 shares of the company’s stock valued at $167,901,000 after buying an additional 149,741 shares during the period.
The stock has a market cap of $7,240.00, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 1.48.
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Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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