Advance Auto Parts (NYSE:AAP) Releases FY 2024 Earnings Guidance

Advance Auto Parts (NYSE:AAP) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.600-0.000 for the period, compared to the consensus earnings per share estimate of 1.670. The company issued revenue guidance of $9.0 billion-$9.0 billion, compared to the consensus revenue estimate of $9.7 billion. Advance Auto Parts also updated its FY 2025 guidance to EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AAP shares. Wells Fargo & Company dropped their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Wedbush raised shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price target on the stock in a report on Tuesday, October 15th. Royal Bank of Canada decreased their target price on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research report on Monday. JPMorgan Chase & Co. decreased their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Finally, Mizuho restated a “neutral” rating and set a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Advance Auto Parts presently has an average rating of “Hold” and an average price target of $54.08.

Advance Auto Parts Trading Up 0.5 %

Shares of AAP opened at $41.15 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 4,115.00, a PEG ratio of 1.33 and a beta of 1.17. The stock has a fifty day moving average price of $39.06 and a two-hundred day moving average price of $54.63. Advance Auto Parts has a 52-week low of $35.59 and a 52-week high of $88.56.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business earned $1.43 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. Analysts predict that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

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.