Brokers Offer Predictions for AAP Q3 Earnings

Advance Auto Parts, Inc. (NYSE:AAP - Free Report) - Equities researchers at Roth Capital issued their Q3 2024 earnings estimates for shares of Advance Auto Parts in a report issued on Tuesday, October 15th. Roth Capital analyst S. Stember forecasts that the company will earn $0.42 per share for the quarter. Roth Capital has a "Hold" rating on the stock. The consensus estimate for Advance Auto Parts' current full-year earnings is $2.19 per share. Roth Capital also issued estimates for Advance Auto Parts' Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.67 EPS and FY2026 earnings at $3.50 EPS.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same period in the prior year, the company posted $1.43 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis.

A number of other research analysts also recently commented on the stock. Evercore ISI dropped their target price on shares of Advance Auto Parts from $64.00 to $60.00 and set an "in-line" rating on the stock in a research report on Friday, August 23rd. TD Cowen dropped their target price on shares of 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. Wedbush upgraded shares of Advance Auto Parts from a "neutral" rating to an "outperform" rating and set a $55.00 price target for the company in a research note on Tuesday. Roth Mkm reiterated a "neutral" rating and set a $40.00 price target on shares of Advance Auto Parts in a research note on Wednesday. Finally, Mizuho reiterated a "neutral" rating and set a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $55.36.

Advance Auto Parts Stock Up 2.0 %

Shares of NYSE AAP traded up $0.76 during mid-day trading on Thursday, reaching $39.38. The company had a trading volume of 2,164,974 shares, compared to its average volume of 1,961,780. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The firm has a 50 day simple moving average of $45.26 and a two-hundred day simple moving average of $60.17. The stock has a market cap of $2.35 billion, a P/E ratio of 56.46, a PEG ratio of 1.25 and a beta of 1.16. Advance Auto Parts has a 52-week low of $36.40 and a 52-week high of $88.56.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.54%. Advance Auto Parts's dividend payout ratio (DPR) is 144.93%.

Hedge Funds Weigh In On Advance Auto Parts

Large investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC boosted its holdings in shares of Advance Auto Parts by 267.7% in the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company's stock worth $30,000 after buying an additional 257 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Advance Auto Parts in the first quarter worth about $34,000. Future Financial Wealth Managment LLC acquired a new position in shares of Advance Auto Parts in the first quarter worth about $43,000. Mather Group LLC. boosted its holdings in shares of Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company's stock worth $41,000 after buying an additional 596 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Advance Auto Parts in the second quarter worth approximately $41,000. Institutional investors 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.