Advance Auto Parts (NYSE:AAP) Issues Earnings Results

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

Advance Auto Parts Stock Performance

Shares of AAP stock traded down $3.51 during mid-day trading on Friday, hitting $37.69. 5,899,565 shares of the stock were exchanged, compared to its average volume of 2,786,713. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.34. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The stock’s fifty day simple moving average is $39.02 and its two-hundred day simple moving average is $54.24. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 51.63 and a beta of 1.17.

Advance Auto Parts Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AAP shares. Royal Bank of Canada reduced their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. 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 note on Tuesday, October 22nd. DA Davidson reiterated a “neutral” rating and issued a $45.00 price objective on shares of Advance Auto Parts in a research note on Friday. Roth Mkm reiterated a “neutral” rating and issued a $40.00 price objective on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Finally, Roth Capital raised Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Hold” and an average price target 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.