Advance Auto Parts (AAP) to Release Earnings on Thursday

Advance Auto Parts (NYSE:AAP - Get Free Report) will announce its earnings results before the market opens on Thursday, November 14th. Analysts expect the company to announce earnings of $0.55 per share for the quarter. Advance Auto Parts has set its FY24 guidance at 2.00-2.50 EPS and its FY 2024 guidance at 2.000-2.500 EPS.Investors interested in listening to the company's conference call can do so using this link.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. Advance Auto Parts's revenue was down .1% compared to the same quarter last year. On average, analysts expect Advance Auto Parts to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Advance Auto Parts Stock Up 0.4 %

Shares of NYSE:AAP traded up $0.14 during trading on Thursday, reaching $38.98. 1,663,249 shares of the stock traded hands, compared to its average volume of 1,992,625. The stock has a market cap of $2.33 billion, a P/E ratio of 3,898.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.17. The stock has a 50-day moving average of $39.40 and a two-hundred day moving average of $55.89. Advance Auto Parts has a 52-week low of $35.59 and a 52-week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23.

Analyst Upgrades and Downgrades

AAP has been the topic of a number of recent research reports. Wells Fargo & Company decreased their target price on Advance Auto Parts from $50.00 to $40.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Roth Capital raised shares of Advance Auto Parts to a "hold" rating in a research note on Tuesday, October 15th. Mizuho reissued a "neutral" rating and set a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Truist Financial dropped their price target on Advance Auto Parts from $46.00 to $41.00 and set a "hold" rating on the stock in a research note on Thursday. Finally, Roth Mkm restated a "neutral" rating and set a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $55.54.

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.