Advance Auto Parts (NYSE:AAP) – Equities researchers at Wedbush issued their Q1 2019 earnings per share (EPS) estimates for Advance Auto Parts in a research report issued on Tuesday, May 15th. Wedbush analyst S. Basham expects that the company will post earnings per share of $2.31 for the quarter. Wedbush has a “Buy” rating and a $130.00 price objective on the stock. Wedbush also issued estimates for Advance Auto Parts’ Q2 2019 earnings at $2.20 EPS, Q3 2019 earnings at $2.02 EPS and Q4 2019 earnings at $1.42 EPS.
Get Advance Auto Parts alerts:Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.12. Advance Auto Parts had a return on equity of 12.45% and a net margin of 5.07%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year.
A number of other research analysts also recently issued reports on the company. Credit Suisse Group downgraded Advance Auto Parts to a “hold” rating and set a $122.00 price objective for the company. in a report on Wednesday. Zacks Investment Research downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Barclays reiterated an “equal weight” rating and set a $114.00 price objective (up from $105.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Stephens reiterated a “hold” rating and set a $113.00 price objective (up from $58.00) on shares of Advance Auto Parts in a report on Thursday, February 22nd. Finally, Atlantic Securities upgraded Advance Auto Parts from a “neutral” rating to an “overweight” rating and set a $140.00 price objective for the company in a report on Tuesday, May 8th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. Advance Auto Parts currently has a consensus rating of “Hold” and a consensus price target of $115.33.
Shares of Advance Auto Parts opened at $119.79 on Wednesday, Marketbeat Ratings reports. Advance Auto Parts has a 1 year low of $119.19 and a 1 year high of $121.32. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.32 and a beta of 1.05. The company has a quick ratio of 0.36, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balentine LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter valued at approximately $100,000. Stratos Wealth Partners LTD. lifted its position in shares of Advance Auto Parts by 1,148.4% in the first quarter. Stratos Wealth Partners LTD. now owns 1,186 shares of the company’s stock valued at $141,000 after buying an additional 1,091 shares during the last quarter. Assetmark Inc. lifted its position in shares of Advance Auto Parts by 71.6% in the fourth quarter. Assetmark Inc. now owns 1,488 shares of the company’s stock valued at $148,000 after buying an additional 621 shares during the last quarter. Advisor Partners LLC acquired a new stake in shares of Advance Auto Parts in the fourth quarter valued at approximately $208,000. Finally, Roberts Glore & Co. Inc. IL acquired a new stake in shares of Advance Auto Parts in the first quarter valued at approximately $231,000.
In other Advance Auto Parts news, insider Thomas Greco acquired 8,640 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was bought at an average cost of $115.77 per share, with a total value of $1,000,252.80. Following the completion of the transaction, the insider now directly owns 135,081 shares in the company, valued at approximately $15,638,327.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Tammy M. Finley sold 342 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $116.35, for a total value of $39,791.70. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.
