FY2024 Earnings Forecast for AAP Issued By Zacks Research

Advance Auto Parts, Inc. (NYSE:AAP - Free Report) - Zacks Research issued their FY2024 earnings per share (EPS) estimates for shares of Advance Auto Parts in a note issued to investors on Tuesday, December 10th. Zacks Research analyst L. Shahu anticipates 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 ($0.54) 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.

Several other analysts have also recently commented on AAP. JPMorgan Chase & Co. decreased their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, August 16th. TD Cowen decreased their price objective 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. UBS Group boosted their target price on Advance Auto Parts from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. Truist Financial decreased their price target on Advance Auto Parts from $41.00 to $39.00 and set a "hold" rating on the stock in a report on Friday, November 15th. Finally, DA Davidson reissued a "neutral" rating and set a $45.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $48.40.

Advance Auto Parts Price Performance

NYSE:AAP traded down $0.15 during mid-day trading on Friday, reaching $43.89. 1,420,311 shares of the company were exchanged, compared to its average volume of 2,081,879. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market cap of $2.62 billion, a PE ratio of 60.12 and a beta of 1.21. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The company has a fifty day moving average of $40.24 and a 200 day moving average of $50.14.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) 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 business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the firm posted ($0.82) EPS. Advance Auto Parts's revenue for the quarter was down 3.2% compared to the same quarter last year.

Institutional Investors Weigh In On Advance Auto Parts

Several institutional investors have recently bought and sold shares of AAP. Diversified Trust Co raised its holdings in shares of Advance Auto Parts by 3.5% in the second quarter. Diversified Trust Co now owns 6,787 shares of the company's stock valued at $430,000 after purchasing an additional 232 shares during the last quarter. Sei Investments Co. lifted its position in Advance Auto Parts by 0.5% during the 2nd quarter. Sei Investments Co. now owns 59,679 shares of the company's stock worth $3,779,000 after buying an additional 277 shares in the last quarter. Qsemble Capital Management LP grew its holdings in shares of Advance Auto Parts by 7.6% in the 2nd quarter. Qsemble Capital Management LP now owns 4,036 shares of the company's stock valued at $256,000 after acquiring an additional 285 shares in the last quarter. Everence Capital Management Inc. grew its holdings in shares of Advance Auto Parts by 3.7% in the 3rd quarter. Everence Capital Management Inc. now owns 8,330 shares of the company's stock valued at $325,000 after acquiring an additional 300 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Advance Auto Parts by 2.0% in the second quarter. Arizona State Retirement System now owns 16,687 shares of the company's stock valued at $1,057,000 after acquiring an additional 334 shares during the last quarter. Institutional investors own 88.75% of the company's stock.

Insider Transactions at Advance Auto Parts

In other news, EVP Tammy M. Finley sold 1,276 shares of the company's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares of the company's stock, valued at $1,069,159.96. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.

Advance Auto Parts Dividend Announcement

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 issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. Advance Auto Parts's dividend payout ratio (DPR) is currently 136.99%.

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.