Advance Auto Parts Inc (NYSE:AAP) – Equities researchers at Wedbush issued their Q1 2018 earnings per share estimates for shares of Advance Auto Parts in a note issued to investors on Monday. Wedbush analyst S. Basham anticipates that the company will earn $2.32 per share for the quarter. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Advance Auto Parts’ Q2 2018 earnings at $2.03 EPS, Q3 2018 earnings at $2.10 EPS and Q4 2018 earnings at $1.56 EPS.
Several other research analysts have also weighed in on AAP. Gabelli raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Thursday, April 20th. Citigroup Inc. cut their target price on Advance Auto Parts from $177.00 to $168.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 25th. Zacks Investment Research lowered Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Royal Bank Of Canada cut their price objective on Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 2nd. Finally, UBS AG reissued a “buy” rating and issued a $180.00 price objective (down from $200.00) on shares of Advance Auto Parts in a research report on Wednesday, May 17th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Advance Auto Parts presently has an average rating of “Hold” and a consensus target price of $149.06.
Shares of Advance Auto Parts (NYSE AAP) traded down 0.03% during midday trading on Wednesday, hitting $109.36. The stock had a trading volume of 292,531 shares. Advance Auto Parts has a 12-month low of $99.13 and a 12-month high of $177.83. The stock has a 50-day moving average price of $110.93 and a 200-day moving average price of $140.09. The stock has a market cap of $8.07 billion, a P/E ratio of 19.81 and a beta of 0.87.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Wednesday, May 24th. The company reported $1.60 EPS for the quarter, missing the Zacks’ consensus estimate of $2.20 by $0.60. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the firm earned $2.51 EPS. Advance Auto Parts’s revenue for the quarter was down 3.0% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Advance Auto Parts by 3,142.5% in the first quarter. BlackRock Inc. now owns 4,320,280 shares of the company’s stock valued at $640,524,000 after buying an additional 4,187,042 shares during the period. Lazard Asset Management LLC raised its position in Advance Auto Parts by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock valued at $464,848,000 after buying an additional 983,616 shares during the period. Neuberger Berman Group LLC raised its position in Advance Auto Parts by 6,616.2% in the second quarter. Neuberger Berman Group LLC now owns 903,258 shares of the company’s stock valued at $105,311,000 after buying an additional 889,809 shares during the period. Bessemer Group Inc. raised its position in Advance Auto Parts by 193.0% in the second quarter. Bessemer Group Inc. now owns 1,207,206 shares of the company’s stock valued at $140,748,000 after buying an additional 795,132 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Advance Auto Parts by 51.2% in the first quarter. Point72 Asset Management L.P. now owns 1,538,878 shares of the company’s stock valued at $228,154,000 after buying an additional 521,078 shares during the period.
In other Advance Auto Parts news, Director Adriana Karaboutis purchased 367 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of $135.28 per share, for a total transaction of $49,647.76. Following the completion of the transaction, the director now owns 3,043 shares in the company, valued at approximately $411,657.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Greco purchased 16,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was acquired at an average price of $134.63 per share, for a total transaction of $2,154,080.00. Following the transaction, the insider now owns 111,030 shares of the company’s stock, valued at approximately $14,947,968.90. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 369,462 shares of company stock worth $49,617,073. 4.50% of the stock is currently owned by company insiders.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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