Advance Auto Parts, Inc. to Post Q3 2024 Earnings of $0.42 Per Share, Roth Capital Forecasts (NYSE:AAP)

Advance Auto Parts, Inc. (NYSE:AAP) – Investment analysts at Roth Capital issued their Q3 2024 earnings per share (EPS) estimates for Advance Auto Parts in a report issued on Tuesday, October 15th. Roth Capital analyst S. Stember forecasts that the company will post earnings per share of $0.42 for the quarter. Roth Capital has a “Hold” rating on the stock. The consensus estimate for Advance Auto Parts’ current full-year earnings is $2.19 per share. Roth Capital also issued estimates for Advance Auto Parts’ Q4 2024 earnings at $0.36 EPS, Q1 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.67 EPS and FY2026 earnings at $3.50 EPS.

Several other research firms also recently commented on AAP. Roth Mkm restated a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Tuesday. TD Cowen lowered their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Evercore ISI cut their price target on shares of Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, August 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.36.

Advance Auto Parts Price Performance

Shares of Advance Auto Parts stock opened at $38.60 on Thursday. The firm has a market cap of $2.30 billion, a P/E ratio of 55.94, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. The firm’s 50-day simple moving average is $45.67 and its 200-day simple moving average is $60.32. Advance Auto Parts has a twelve month low of $36.40 and a twelve month high of $88.56. 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 (NYSE:AAP) last issued its earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business earned $1.43 earnings per share.

Hedge Funds Weigh In On Advance Auto Parts

Large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its holdings in Advance Auto Parts by 267.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after purchasing an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Advance Auto Parts in the first quarter valued at approximately $34,000. Mather Group LLC. boosted its stake in Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after acquiring an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Advance Auto Parts during the 2nd quarter worth $41,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.59%. Advance Auto Parts’s payout ratio is currently 144.93%.

Advance Auto Parts Company Profile

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.