Research Analysts Offer Predictions for AAP FY2024 Earnings

Advance Auto Parts, Inc. (NYSE:AAP - Free Report) - Research analysts at Roth Capital issued their FY2024 EPS estimates for Advance Auto Parts in a note issued to investors on Tuesday, October 15th. Roth Capital analyst S. Stember forecasts that the company will post earnings per share of $2.20 for the year. Roth Capital currently 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' Q2 2025 earnings at $0.57 EPS and FY2025 earnings at $2.79 EPS.

Other analysts also recently issued reports about the stock. Truist Financial lowered their price target on shares of Advance Auto Parts from $63.00 to $46.00 and set a "hold" rating on the stock in a report on Friday, August 23rd. JPMorgan Chase & Co. lowered their target price 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. Evercore ISI cut their price target on Advance Auto Parts from $64.00 to $60.00 and set an "in-line" rating for the company in a research note on Friday, August 23rd. Roth Mkm reaffirmed a "neutral" rating and issued a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective 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. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Advance Auto Parts has an average rating of "Hold" and a consensus target price of $55.36.

Advance Auto Parts Stock Performance

Advance Auto Parts stock traded up $0.44 during mid-day trading on Friday, hitting $39.82. The company had a trading volume of 1,306,668 shares, compared to its average volume of 1,958,550. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 57.04, a P/E/G ratio of 1.25 and a beta of 1.16. Advance Auto Parts has a 12-month low of $36.40 and a 12-month high of $88.56. The company's fifty day moving average is $44.83 and its 200-day moving average is $60.02. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The business's quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $1.43 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its position in Advance Auto Parts by 25.7% during the first quarter. CWM LLC now owns 1,739 shares of the company's stock worth $148,000 after buying an additional 356 shares in the last quarter. First Hawaiian Bank boosted its position in shares of Advance Auto Parts by 44.0% during the 1st quarter. First Hawaiian Bank now owns 9,673 shares of the company's stock valued at $823,000 after acquiring an additional 2,957 shares during the last quarter. Radnor Capital Management LLC acquired a new position in shares of Advance Auto Parts during the 1st quarter valued at about $241,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Advance Auto Parts in the first quarter valued at about $43,000. Finally, Hexagon Capital Partners LLC increased its position in Advance Auto Parts by 267.7% during the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company's stock worth $30,000 after purchasing an additional 257 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. Advance Auto Parts's payout ratio is 144.93%.

About Advance Auto Parts

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.