Analysts predict that Advance Auto Parts, Inc. (NYSE:AAP) will report earnings of $2.36 per share for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Advance Auto Parts’ earnings, with estimates ranging from $2.26 to $2.45. Advance Auto Parts posted earnings per share of $2.10 during the same quarter last year, which indicates a positive year-over-year growth rate of 12.4%. The company is expected to issue its next quarterly earnings report before the market opens on Wednesday, May 22nd.

According to Zacks, analysts expect that Advance Auto Parts will report full year earnings of $8.12 per share for the current year, with EPS estimates ranging from $7.78 to $8.60. For the next financial year, analysts forecast that the firm will post earnings of $9.50 per share, with EPS estimates ranging from $8.85 to $10.12. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Advance Auto Parts.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, February 19th. The company reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.03. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Advance Auto Parts had a net margin of 4.42% and a return on equity of 14.64%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS.

A number of analysts have recently weighed in on AAP shares. Jefferies Financial Group reduced their target price on shares of Advance Auto Parts to $195.00 and set a “buy” rating on the stock in a research report on Wednesday, February 20th. Wells Fargo & Co reiterated a “hold” rating and issued a $175.00 price target on shares of Advance Auto Parts in a research note on Tuesday, February 19th. Evercore ISI started coverage on shares of Advance Auto Parts in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $185.00 price target on the stock. Credit Suisse Group reiterated a “buy” rating and issued a $195.00 price target on shares of Advance Auto Parts in a research note on Tuesday, February 19th. Finally, Zacks Investment Research cut shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $190.71.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Covenant Partners LLC bought a new position in Advance Auto Parts during the 1st quarter valued at about $207,000. CWM Advisors LLC lifted its stake in Advance Auto Parts by 57.7% during the 1st quarter. CWM Advisors LLC now owns 3,151 shares of the company’s stock valued at $537,000 after acquiring an additional 1,153 shares during the period. HighTower Advisors LLC lifted its stake in Advance Auto Parts by 15.3% during the 1st quarter. HighTower Advisors LLC now owns 5,367 shares of the company’s stock valued at $917,000 after acquiring an additional 712 shares during the period. Moneta Group Investment Advisors LLC bought a new position in Advance Auto Parts during the 1st quarter valued at about $245,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Advance Auto Parts by 3.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,562 shares of the company’s stock valued at $608,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Shares of NYSE:AAP traded up $1.80 during midday trading on Friday, reaching $157.63. The company’s stock had a trading volume of 58,492 shares, compared to its average volume of 1,155,508. The company has a market capitalization of $11.12 billion, a PE ratio of 22.15, a P/E/G ratio of 1.49 and a beta of 0.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.44. Advance Auto Parts has a 12-month low of $113.61 and a 12-month high of $186.15.

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.

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