Analysts predict that Advance Auto Parts, Inc. (NYSE:AAP) will report $1.75 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Advance Auto Parts’ earnings. The highest EPS estimate is $1.81 and the lowest is $1.67. Advance Auto Parts reported earnings of $1.43 per share in the same quarter last year, which indicates a positive year over year growth rate of 22.4%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 13th.

On average, analysts expect that Advance Auto Parts will report full-year earnings of $6.96 per share for the current fiscal year, with EPS estimates ranging from $6.86 to $7.20. For the next fiscal year, analysts expect that the company will post earnings of $7.99 per share, with EPS estimates ranging from $7.30 to $9.34. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, August 14th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.11. Advance Auto Parts had a return on equity of 13.43% and a net margin of 5.68%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year.

A number of research firms have recently commented on AAP. Argus upped their target price on Advance Auto Parts from $155.00 to $184.00 and gave the company a “buy” rating in a research note on Monday. They noted that the move was a valuation call. Bank of America raised Advance Auto Parts from an “underperform” rating to a “neutral” rating and upped their target price for the company from $123.00 to $177.00 in a research note on Monday. Guggenheim reaffirmed a “buy” rating and set a $174.00 target price on shares of Advance Auto Parts in a research note on Thursday, August 16th. Stephens reaffirmed a “hold” rating and set a $155.00 target price on shares of Advance Auto Parts in a research note on Thursday, August 16th. Finally, Deutsche Bank upped their target price on Advance Auto Parts from $155.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. Advance Auto Parts currently has a consensus rating of “Buy” and a consensus price target of $148.53.

In other news, Director Nigel Travis acquired 1,250 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were bought at an average price of $159.70 per share, with a total value of $199,625.00. Following the completion of the purchase, the director now directly owns 1,250 shares in the company, valued at $199,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in AAP. Wells Fargo & Company MN grew its stake in Advance Auto Parts by 6.1% in the first quarter. Wells Fargo & Company MN now owns 974,351 shares of the company’s stock worth $115,509,000 after purchasing an additional 55,851 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in Advance Auto Parts in the first quarter worth approximately $377,000. SG Americas Securities LLC grew its stake in Advance Auto Parts by 25.0% in the first quarter. SG Americas Securities LLC now owns 10,117 shares of the company’s stock worth $1,199,000 after purchasing an additional 2,026 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Advance Auto Parts by 56.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 11,465 shares of the company’s stock worth $1,387,000 after purchasing an additional 4,153 shares in the last quarter. Finally, Mackay Shields LLC bought a new position in Advance Auto Parts in the first quarter worth approximately $1,475,000.

AAP stock traded up $4.15 during midday trading on Tuesday, reaching $167.65. 1,272,400 shares of the company traded hands, compared to its average volume of 1,146,316. The company has a market cap of $12.26 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 2.22 and a beta of 1.18. Advance Auto Parts has a 52-week low of $78.81 and a 52-week high of $170.91. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.63 and a quick ratio of 0.48.

Advance Auto Parts declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 14th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Friday, September 21st will be paid a $0.06 dividend. The ex-dividend date is Thursday, September 20th. This represents a $0.24 annualized dividend and a yield of 0.14%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 4.47%.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.

Read More: How to Invest in Marijuana Stocks

Get a free copy of the Zacks research report on Advance Auto Parts (AAP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Advance Auto Parts (NYSE:AAP)

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.