Oppenheimer Comments on Advance Auto Parts, Inc.’s FY2022 Earnings (NYSE:AAP)

Advance Auto Parts, Inc. (NYSE:AAPGet Rating) – Analysts at Oppenheimer dropped their FY2022 earnings per share estimates for shares of Advance Auto Parts in a research note issued to investors on Thursday, November 17th. Oppenheimer analyst B. Nagel now anticipates that the company will post earnings of $12.64 per share for the year, down from their previous estimate of $12.95. The consensus estimate for Advance Auto Parts’ current full-year earnings is $12.62 per share. Oppenheimer also issued estimates for Advance Auto Parts’ Q4 2022 earnings at $2.47 EPS.

A number of other research analysts also recently weighed in on AAP. DA Davidson dropped their price target on Advance Auto Parts from $200.00 to $170.00 in a research note on Thursday. Guggenheim lowered Advance Auto Parts from a “buy” rating to a “neutral” rating in a report on Thursday. UBS Group lowered Advance Auto Parts from a “buy” rating to a “neutral” rating and cut their price target for the stock from $230.00 to $182.00 in a report on Wednesday, November 16th. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group dropped their price objective on Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating for the company in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.07.

Advance Auto Parts Stock Down 0.5 %

Shares of Advance Auto Parts stock opened at $147.50 on Monday. Advance Auto Parts has a one year low of $145.59 and a one year high of $244.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.25. The stock’s 50-day moving average is $171.75 and its 200 day moving average is $181.89. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 0.93 and a beta of 1.27.

Advance Auto Parts (NYSE:AAPGet Rating) last issued its earnings results on Tuesday, August 23rd. The company reported $3.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.74. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm earned $3.40 EPS.

Advance Auto Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $6.00 annualized dividend and a yield of 4.07%. Advance Auto Parts’s payout ratio is 77.12%.

Institutional Trading of Advance Auto Parts

A number of hedge funds have recently made changes to their positions in the stock. Covestor Ltd raised its stake in Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after buying an additional 83 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Advance Auto Parts during the 1st quarter valued at about $35,000. Ellevest Inc. raised its position in shares of Advance Auto Parts by 161.0% during the 2nd quarter. Ellevest Inc. now owns 201 shares of the company’s stock valued at $35,000 after buying an additional 124 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Advance Auto Parts during the 2nd quarter valued at about $36,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in Advance Auto Parts in the 2nd quarter worth about $38,000. 99.47% of the stock is owned by institutional investors.

Advance Auto Parts Company Profile

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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.

See Also

Earnings History and Estimates for Advance Auto Parts (NYSE:AAP)

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