Advance Auto Parts (NYSE:AAP – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $13.30-$13.85 for the period, compared to the consensus EPS estimate of $13.70. The company issued revenue guidance of $11.20 billion-$11.50 billion, compared to the consensus revenue estimate of $11.40 billion.
AAP has been the subject of a number of analyst reports. StockNews.com cut Advance Auto Parts from a buy rating to a hold rating in a report on Tuesday, May 31st. Royal Bank of Canada cut their price objective on Advance Auto Parts from $247.00 to $217.00 in a research note on Wednesday, May 25th. Truist Financial cut their price objective on Advance Auto Parts from $276.00 to $238.00 and set a buy rating for the company in a research note on Wednesday, May 25th. Morgan Stanley cut their price objective on Advance Auto Parts from $240.00 to $225.00 and set an equal weight rating for the company in a research note on Tuesday, May 24th. Finally, UBS Group dropped their price target on Advance Auto Parts to $250.00 in a research report on Wednesday, May 25th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Advance Auto Parts presently has a consensus rating of Buy and a consensus price target of $244.94.
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Shares of AAP stock opened at $179.43 on Monday. The stock’s 50-day moving average is $204.58 and its two-hundred day moving average is $216.80. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.04 and a beta of 1.23. Advance Auto Parts has a 1 year low of $172.86 and a 1 year high of $244.55. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.25 and a current ratio of 1.20.
Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.02). The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.34 EPS. As a group, research analysts predict that Advance Auto Parts will post 13.68 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, June 16th. Advance Auto Parts’s dividend payout ratio is currently 66.82%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Advance Auto Parts by 3.9% during the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after buying an additional 261,715 shares during the last quarter. Clearbridge Investments LLC lifted its position in Advance Auto Parts by 3.6% in the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock valued at $685,801,000 after purchasing an additional 114,789 shares during the period. Invesco Ltd. lifted its position in Advance Auto Parts by 10.8% in the first quarter. Invesco Ltd. now owns 1,018,797 shares of the company’s stock valued at $210,850,000 after purchasing an additional 99,400 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Advance Auto Parts by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 473,154 shares of the company’s stock valued at $97,924,000 after purchasing an additional 9,654 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Advance Auto Parts by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 403,481 shares of the company’s stock valued at $83,504,000 after purchasing an additional 18,453 shares during the period. 98.99% of the stock is currently owned by hedge funds and other institutional investors.
About Advance Auto Parts (Get Rating)
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.
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