Advance Auto Parts, Inc. (NYSE:AAP) – Investment analysts at Oppenheimer Holdings lowered their Q4 2017 earnings per share (EPS) estimates for Advance Auto Parts in a note issued to investors on Wednesday. Oppenheimer Holdings analyst B. Nagel now expects that the company will post earnings per share of $1.25 for the quarter, down from their prior estimate of $1.26. Oppenheimer Holdings currently has a “Hold” rating on the stock.
AAP has been the topic of a number of other reports. Zacks Investment Research lowered shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. BTIG Research reaffirmed a “sell” rating and issued a $120.00 target price on shares of Advance Auto Parts in a report on Tuesday, March 28th. Wedbush reissued an “outperform” rating and set a $185.00 price objective on shares of Advance Auto Parts in a report on Wednesday, March 15th. Barclays PLC boosted their price objective on shares of Advance Auto Parts from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Wednesday, February 22nd. Finally, Gabelli raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Thursday, April 20th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $166.97.
Advance Auto Parts (NYSE:AAP) opened at 134.16 on Friday. The company has a 50 day moving average price of $143.46 and a 200 day moving average price of $157.51. Advance Auto Parts has a 52-week low of $129.40 and a 52-week high of $177.83. The firm has a market capitalization of $9.90 billion, a P/E ratio of 24.30 and a beta of 1.10.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by $0.60. Advance Auto Parts had a net margin of 4.75% and a return on equity of 20.42%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company earned $2.51 earnings per share. Advance Auto Parts’s revenue was down 3.0% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 23rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.18%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.94%.
In related news, insider Thomas Greco bought 6,500 shares of the stock in a transaction on Tuesday, March 7th. The shares were purchased at an average price of $154.29 per share, with a total value of $1,002,885.00. Following the purchase, the insider now owns 107,936 shares in the company, valued at $16,653,445.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles E. Tyson sold 18,944 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $153.46, for a total transaction of $2,907,146.24. Following the transaction, the executive vice president now directly owns 21,948 shares in the company, valued at approximately $3,368,140.08. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AAP. IFP Advisors Inc boosted its position in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares during the last quarter. Van ECK Associates Corp boosted its position in Advance Auto Parts by 7.5% in the first quarter. Van ECK Associates Corp now owns 966 shares of the company’s stock valued at $143,000 after buying an additional 67 shares during the last quarter. Global X Management Co. LLC boosted its position in Advance Auto Parts by 28.9% in the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock valued at $144,000 after buying an additional 218 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in Advance Auto Parts during the first quarter valued at approximately $148,000. Finally, State of Alaska Department of Revenue bought a new position in Advance Auto Parts during the first quarter valued at approximately $192,000. 98.67% of the stock is currently owned by hedge funds and other institutional investors.
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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