Advance Auto Parts (NYSE:AAP) released its earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.10, Briefing.com reports. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.94 billion. Advance Auto Parts had a return on equity of 15.23% and a net margin of 4.45%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 earnings per share. Advance Auto Parts updated its FY 2019 guidance to EPS.
AAP stock traded down $2.36 during trading on Wednesday, reaching $152.20. 50,387 shares of the stock were exchanged, compared to its average volume of 1,297,926. Advance Auto Parts has a twelve month low of $123.06 and a twelve month high of $186.15. The company has a market cap of $11.34 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.67 and a beta of 0.97. The company has a quick ratio of 0.31, a current ratio of 1.35 and a debt-to-equity ratio of 0.79.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, June 20th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 3.37%.Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP lifted its stake in Advance Auto Parts by 1,003.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,117,577 shares of the company’s stock worth $175,974,000 after purchasing an additional 1,016,300 shares during the period. Clearbridge Investments LLC lifted its stake in Advance Auto Parts by 228.9% during the first quarter. Clearbridge Investments LLC now owns 1,398,815 shares of the company’s stock worth $238,540,000 after purchasing an additional 973,543 shares during the period. Norges Bank bought a new position in Advance Auto Parts during the fourth quarter worth about $110,154,000. JPMorgan Chase & Co. lifted its stake in Advance Auto Parts by 114.3% during the first quarter. JPMorgan Chase & Co. now owns 1,209,134 shares of the company’s stock worth $206,194,000 after purchasing an additional 644,911 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Advance Auto Parts by 158.6% during the fourth quarter. Two Sigma Investments LP now owns 934,980 shares of the company’s stock worth $147,222,000 after purchasing an additional 573,376 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on AAP. Evercore ISI began coverage on Advance Auto Parts in a report on Wednesday, March 20th. They issued an “outperform” rating and a $185.00 target price for the company. Zacks Investment Research lowered Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Wells Fargo & Co reiterated a “hold” rating and set a $175.00 price objective on shares of Advance Auto Parts in a report on Wednesday, May 22nd. Citigroup cut their price objective on Advance Auto Parts from $188.00 to $182.00 and set a “neutral” rating for the company in a report on Monday, April 1st. Finally, William Blair reiterated an “outperform” rating on shares of Advance Auto Parts in a report on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Advance Auto Parts presently has an average rating of “Buy” and a consensus price target of $190.71.
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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.
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