Advance Auto Parts (AAP) Set to Announce Quarterly Earnings on Thursday

Advance Auto Parts (NYSE:AAP) will be announcing 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 that wish to listen to the company’s conference call can do so using this link.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company posted $1.43 earnings per share. 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 Trading Up 1.8 %

Shares of NYSE:AAP opened at $38.84 on Thursday. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The stock’s fifty day moving average price is $39.54 and its 200-day moving average price is $56.01. The company has a market cap of $2.32 billion, a P/E ratio of 3,884.00, a PEG ratio of 1.18 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30.

Wall Street Analysts Forecast Growth

AAP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped 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 report on Friday, August 16th. Mizuho reiterated a “neutral” rating and set a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Tuesday, October 15th. Truist Financial lowered their target price on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Finally, Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $55.92.

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.