FY2024 Earnings Forecast for AAP Issued By Zacks Research

Advance Auto Parts, Inc. (NYSE:AAP) – Investment analysts at Zacks Research issued their FY2024 earnings per share estimates for shares of Advance Auto Parts in a research note issued on Tuesday, December 10th. Zacks Research analyst L. Shahu anticipates that the company will post earnings per share of ($0.52) for the year. The consensus estimate for Advance Auto Parts’ current full-year earnings is ($0.54) per share. Zacks Research also issued estimates for Advance Auto Parts’ Q4 2024 earnings at ($1.43) EPS, Q1 2025 earnings at $0.20 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $1.62 EPS, Q1 2026 earnings at $0.52 EPS, Q2 2026 earnings at $0.51 EPS, Q3 2026 earnings at $0.59 EPS and FY2026 earnings at $2.25 EPS.

Other research analysts have also issued research reports about the company. Truist Financial decreased their target price on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Friday, November 15th. The Goldman Sachs Group decreased their target price on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Evercore ISI increased their target price on Advance Auto Parts from $45.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, November 20th. DA Davidson reissued a “neutral” rating and issued a $45.00 target price on shares of Advance Auto Parts in a research report on Friday, November 15th. Finally, Royal Bank of Canada decreased their target price on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and an average price target of $48.40.

Advance Auto Parts Trading Down 0.3 %

NYSE AAP opened at $43.89 on Friday. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a 50 day simple moving average of $40.24 and a two-hundred day simple moving average of $50.14. The stock has a market cap of $2.62 billion, a P/E ratio of 60.12 and a beta of 1.21.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.53). Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the business posted ($0.82) EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year.

Hedge Funds Weigh In On Advance Auto Parts

Institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Advance Auto Parts in the 3rd quarter worth $14,684,000. Wolverine Asset Management LLC boosted its stake in shares of Advance Auto Parts by 212.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 31,357 shares of the company’s stock worth $1,223,000 after buying an additional 21,320 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Advance Auto Parts in the 3rd quarter worth $579,000. BW Gestao de Investimentos Ltda. purchased a new position in shares of Advance Auto Parts in the 2nd quarter worth $7,916,000. Finally, FORA Capital LLC purchased a new position in shares of Advance Auto Parts in the 3rd quarter worth $2,144,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Advance Auto Parts news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the completion of the sale, the executive vice president now owns 24,266 shares of the company’s stock, valued at approximately $1,069,159.96. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Friday, January 10th. Advance Auto Parts’s payout ratio is 136.99%.

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.