FY2024 Earnings Forecast for AAP Issued By Zacks Research

Advance Auto Parts, Inc. (NYSE:AAP) – Analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for Advance Auto Parts in a research note issued to investors on Tuesday, December 10th. Zacks Research analyst L. Shahu expects 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.

Other research analysts have also recently issued research reports about the company. DA Davidson reissued a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research report on Friday, November 15th. JPMorgan Chase & Co. cut their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Roth Mkm reissued a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, TD Cowen dropped their price target 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. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.40.

Advance Auto Parts Stock Down 0.3 %

Shares of NYSE:AAP opened at $43.89 on Friday. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 60.12 and a beta of 1.21. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The business’s 50 day moving average is $40.24 and its 200 day moving average is $50.14.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.53). The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.82) EPS.

Hedge Funds Weigh In On Advance Auto Parts

Several institutional investors have recently modified their holdings of AAP. Diversified Trust Co increased its position in shares of Advance Auto Parts by 3.5% during the 2nd 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. Wealth Enhancement Advisory Services LLC boosted its holdings in Advance Auto Parts by 85.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,625 shares of the company’s stock valued at $293,000 after acquiring an additional 2,131 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Advance Auto Parts during the 2nd quarter valued at about $1,307,000. Blue Trust Inc. boosted its holdings in Advance Auto Parts by 98.7% during the 2nd quarter. Blue Trust Inc. now owns 769 shares of the company’s stock valued at $49,000 after acquiring an additional 382 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Advance Auto Parts during the 2nd quarter valued at about $3,742,000. 88.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Tammy M. Finley sold 1,276 shares of the 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 transaction, the executive vice president now directly owns 24,266 shares in the company, valued at approximately $1,069,159.96. This represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.28%. Advance Auto Parts’s dividend payout ratio 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.