FY2024 Earnings Forecast for AAP Issued By Zacks Research

Advance Auto Parts, Inc. (NYSE:AAP) – Zacks Research issued their FY2024 earnings estimates for Advance Auto Parts in a research note issued to investors on Tuesday, December 10th. Zacks Research analyst L. Shahu anticipates that the company will post earnings of ($0.52) per share 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.

AAP has been the topic of a number of other research reports. The Goldman Sachs Group dropped their price objective on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. UBS Group raised their target price on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Royal Bank of Canada reduced their price target on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a report on Friday, November 15th. Finally, BMO Capital Markets started coverage on shares of Advance Auto Parts in a research report on Friday. They issued a “market perform” rating and a $45.00 price target on the stock. 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. Based on data from MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and an average price target of $48.40.

Advance Auto Parts Stock Performance

NYSE AAP opened at $43.86 on Friday. The business’s 50-day simple moving average is $40.24 and its 200-day simple moving average is $50.00. The firm has a market capitalization of $2.62 billion, a P/E ratio of 60.08 and a beta of 1.21. Advance Auto Parts has a 1-year low of $35.59 and a 1-year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Thursday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business posted ($0.82) EPS. The firm’s revenue was down 3.2% compared to the same quarter last year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 annualized dividend and a yield of 2.28%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 136.99%.

Insider Buying and Selling at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $44.06, for a total value of $56,220.56. Following the transaction, the executive vice president now owns 24,266 shares in the company, valued at $1,069,159.96. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC raised its position in Advance Auto Parts by 140.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,908,658 shares of the company’s stock valued at $113,409,000 after buying an additional 1,698,155 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Advance Auto Parts by 76.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,266,362 shares of the company’s stock worth $80,197,000 after buying an additional 547,696 shares during the last quarter. Dorsal Capital Management LP lifted its position in shares of Advance Auto Parts by 159.7% in the second quarter. Dorsal Capital Management LP now owns 1,250,000 shares of the company’s stock valued at $79,162,000 after buying an additional 768,664 shares during the last quarter. Royce & Associates LP grew its stake in Advance Auto Parts by 31.7% in the 3rd quarter. Royce & Associates LP now owns 1,075,587 shares of the company’s stock valued at $41,937,000 after buying an additional 258,656 shares during the last quarter. Finally, Legion Partners Asset Management LLC grew its holdings in Advance Auto Parts by 1.7% in the 2nd quarter. Legion Partners Asset Management LLC now owns 786,250 shares of the company’s stock valued at $49,793,000 after buying an additional 13,300 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors.

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.