Advance Auto Parts (NYSE:AAP) Releases Quarterly Earnings Results, Misses Expectations By $0.53 EPS

Advance Auto Parts (NYSE:AAP) issued its earnings results on Thursday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53), Briefing.com reports. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. Advance Auto Parts’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.82) earnings per share.

Advance Auto Parts Stock Down 8.5 %

AAP traded down $3.51 during trading on Friday, hitting $37.69. 5,899,565 shares of the company’s stock were exchanged, compared to its average volume of 2,786,713. The company has a quick ratio of 0.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $39.02 and its two-hundred day moving average is $54.24. The stock has a market cap of $2.25 billion, a P/E ratio of 51.63 and a beta of 1.17. Advance Auto Parts has a fifty-two week low of $35.59 and a fifty-two week high of $88.56.

Advance Auto Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Evercore ISI reduced their price objective on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. The Goldman Sachs Group lowered their price objective on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday. Wells Fargo & Company cut their target price on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. DA Davidson reissued a “neutral” rating and set a $45.00 target price on shares of Advance Auto Parts in a report on Friday. Finally, Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Friday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.14.

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.