FY2024 Earnings Estimate for AAP Issued By Zacks Research

Advance Auto Parts, Inc. (NYSE:AAP) – Equities research analysts at Zacks Research issued their FY2024 earnings per share estimates for shares of Advance Auto Parts in a note issued to investors on Tuesday, December 10th. Zacks Research analyst L. Shahu expects that the company will post earnings of ($0.52) per share for the year. The consensus estimate for Advance Auto Parts’ current full-year earnings is ($0.51) per share. Zacks Research also issued estimates for Advance Auto Parts’ Q4 2024 earnings at ($1.43) EPS, Q1 2025 earnings at $0.20 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $1.62 EPS, Q1 2026 earnings at $0.52 EPS, Q2 2026 earnings at $0.51 EPS, Q3 2026 earnings at $0.59 EPS and FY2026 earnings at $2.25 EPS.

A number of other equities analysts have also recently weighed in on AAP. Truist Financial reduced their price objective on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Mizuho reiterated a “neutral” rating and issued a $38.00 price objective (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Wells Fargo & Company reduced their price target on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. TD Cowen cut their target price on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Finally, Royal Bank of Canada reduced their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.64.

Advance Auto Parts Stock Down 3.4 %

Advance Auto Parts stock opened at $44.01 on Friday. The business’s 50-day moving average price is $40.14 and its 200 day moving average price is $50.32. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 60.29 and a beta of 1.21. Advance Auto Parts has a 52 week low of $35.59 and a 52 week high of $88.56. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the business posted ($0.82) EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis.

Advance Auto Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, January 10th. Advance Auto Parts’s payout ratio is 136.99%.

Insider Activity

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Institutional Trading of Advance Auto Parts

Hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of Advance Auto Parts during the 2nd quarter valued at about $41,000. Blue Trust Inc. grew its stake in shares of Advance Auto Parts by 56.7% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after purchasing an additional 436 shares during the last quarter. AM Squared Ltd bought a new position in shares of Advance Auto Parts in the second quarter valued at $63,000. KBC Group NV raised its position in shares of Advance Auto Parts by 29.1% during the third quarter. KBC Group NV now owns 1,749 shares of the company’s stock worth $68,000 after purchasing an additional 394 shares during the period. Finally, City State Bank acquired a new stake in Advance Auto Parts during the 3rd quarter worth about $78,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Company Profile

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.