Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) – Investment analysts at Wedbush cut their Q2 2022 earnings per share (EPS) estimates for shares of Advance Auto Parts in a research note issued on Tuesday, May 24th. Wedbush analyst S. Basham now forecasts that the company will earn $4.00 per share for the quarter, down from their prior forecast of $4.08. Wedbush has a “Outperform” rating and a $215.00 price objective on the stock. Wedbush also issued estimates for Advance Auto Parts’ Q3 2022 earnings at $3.67 EPS, Q4 2022 earnings at $2.29 EPS, FY2022 earnings at $13.55 EPS and FY2023 earnings at $14.85 EPS.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Monday, May 23rd. The company reported $3.57 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.02). Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.39 billion. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.34 earnings per share.
Shares of AAP opened at $180.23 on Wednesday. The business’s 50 day moving average is $210.25 and its 200 day moving average is $221.09. The company has a current ratio of 1.21, a quick ratio of 0.31 and a debt-to-equity ratio of 0.33. Advance Auto Parts has a 12-month low of $172.86 and a 12-month high of $244.55. The company has a market capitalization of $11.01 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.12 and a beta of 1.22.
Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its position in Advance Auto Parts by 287.6% during the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock valued at $23,708,000 after purchasing an additional 103,160 shares during the period. Creative Planning increased its holdings in Advance Auto Parts by 5.8% during the third quarter. Creative Planning now owns 1,589 shares of the company’s stock valued at $332,000 after buying an additional 87 shares during the period. Allianz Asset Management GmbH raised its stake in Advance Auto Parts by 11.0% in the third quarter. Allianz Asset Management GmbH now owns 5,129 shares of the company’s stock worth $1,072,000 after buying an additional 508 shares in the last quarter. US Bancorp DE raised its stake in Advance Auto Parts by 1.3% in the third quarter. US Bancorp DE now owns 4,556 shares of the company’s stock worth $952,000 after buying an additional 60 shares in the last quarter. Finally, BOKF NA bought a new stake in Advance Auto Parts during the 3rd quarter valued at $280,000. 98.99% of the stock is owned by institutional investors and hedge funds.
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.
- Get a free copy of the StockNews.com research report on Advance Auto Parts (AAP)
- Indie Semiconductor Stock is Putting in a Bottom
- It’s Time to Buy into Planet Fitness Stock
- Two Retailers, One To Buy And One To Avoid
- Investors Can Get 5%-Plus Dividend Yields on These 3 Buys
- 3 Defensive Consumer Stocks Worth Shopping For
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.