FY2022 EPS Estimates for Advance Auto Parts, Inc. (NYSE:AAP) Reduced by DA Davidson
Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) – Research analysts at DA Davidson dropped their FY2022 earnings per share (EPS) estimates for shares of Advance Auto Parts in a report issued on Tuesday, April 12th. DA Davidson analyst M. Baker now expects that the company will earn $13.91 per share for the year, down from their previous forecast of $13.94.
A number of other equities analysts also recently commented on the company. Wells Fargo & Company decreased their price target on Advance Auto Parts from $255.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 15th. JPMorgan Chase & Co. lifted their price target on Advance Auto Parts from $276.00 to $280.00 in a research note on Friday, February 11th. Truist Financial started coverage on Advance Auto Parts in a research note on Thursday, January 13th. They issued a “buy” rating and a $273.00 price target for the company. Royal Bank of Canada began coverage on Advance Auto Parts in a research note on Thursday, January 27th. They issued a “sector perform” rating and a $239.00 price target for the company. Finally, StockNews.com began coverage on shares of Advance Auto Parts in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $256.65.
NYSE:AAP opened at $218.68 on Thursday. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 1.27 and a beta of 1.29. Advance Auto Parts has a one year low of $187.16 and a one year high of $244.55. The stock has a 50-day simple moving average of $212.59 and a 200 day simple moving average of $223.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 1.21.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its earnings results on Monday, February 14th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.10. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.37 billion. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $1.87 earnings per share.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in shares of Advance Auto Parts during the fourth quarter valued at approximately $30,000. Huntington National Bank raised its holdings in shares of Advance Auto Parts by 116.8% during the fourth quarter. Huntington National Bank now owns 219 shares of the company’s stock valued at $53,000 after buying an additional 118 shares during the last quarter. Tobam increased its stake in shares of Advance Auto Parts by 466.7% during the third quarter. Tobam now owns 238 shares of the company’s stock valued at $50,000 after acquiring an additional 196 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Advance Auto Parts by 23.9% during the third quarter. Geneos Wealth Management Inc. now owns 259 shares of the company’s stock valued at $53,000 after acquiring an additional 50 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of Advance Auto Parts by 423.5% during the third quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $39,000 after acquiring an additional 216 shares during the period. 97.61% of the stock is currently owned by institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 18th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, March 17th. This is a boost from Advance Auto Parts’s previous quarterly dividend of $1.00. Advance Auto Parts’s payout ratio is 62.96%.
Advance Auto Parts Company Profile (Get Rating)
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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