Advance Auto Parts (NYSE:AAP) Releases Earnings Results, Misses Estimates By $0.53 EPS

Advance Auto Parts (NYSE:AAP - Get Free Report) posted its earnings results on Thursday. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.53), Briefing.com reports. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm posted ($0.82) EPS.

Advance Auto Parts Price Performance

AAP stock traded down $3.51 during mid-day trading on Friday, hitting $37.69. The company had a trading volume of 5,899,565 shares, compared to its average volume of 2,786,713. The company has a 50-day moving average price of $39.02 and a 200 day moving average price of $54.24. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 51.63 and a beta of 1.17. The company has a quick ratio of 0.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts's dividend payout ratio is currently 136.99%.

Wall Street Analyst Weigh In

AAP has been the subject of several research reports. Mizuho reaffirmed a "neutral" rating and set a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. DA Davidson reiterated a "neutral" rating and set a $45.00 price target on shares of Advance Auto Parts in a research note on Friday. Wedbush restated an "outperform" rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday. Evercore ISI cut their price target on Advance Auto Parts from $71.00 to $67.00 and set an "in-line" rating for the company in a report on Tuesday, October 22nd. Finally, TD Cowen reduced their price target on Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating for the company in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Advance Auto Parts has an average rating of "Hold" and an average target price of $49.14.

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.