Advance Auto Parts (AAP) Scheduled to Post Quarterly Earnings on Thursday

Advance Auto Parts (NYSE:AAP) is set to post its quarterly earnings results before the market opens on Thursday, November 14th. Analysts expect Advance Auto Parts to post earnings of $0.55 per share for the quarter. Advance Auto Parts has set its FY24 guidance at 2.00-2.50 EPS and its FY 2024 guidance at 2.000-2.500 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the company earned $1.43 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts expect Advance Auto Parts to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Advance Auto Parts Trading Up 7.0 %

Shares of AAP opened at $40.55 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. Advance Auto Parts has a 52-week low of $35.59 and a 52-week high of $88.56. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 4,055.00, a PEG ratio of 1.24 and a beta of 1.17. The business’s fifty day moving average is $39.16 and its 200-day moving average is $55.07.

Analysts Set New Price Targets

Several research analysts have commented on AAP shares. Mizuho reissued a “neutral” rating and set a $38.00 target price (down previously from $45.00) on shares of Advance Auto Parts in a research note on Thursday, September 12th. TD Cowen lowered their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Royal Bank of Canada cut their target price on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Monday. Truist Financial lowered their price target on shares of Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Finally, Roth Capital raised Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.08.

About Advance Auto Parts

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.