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

Advance Auto Parts (NYSE:AAP) announced its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.53), Briefing.com reports. The company had revenue of $2.15 billion during 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 company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.82) EPS.

Advance Auto Parts Trading Down 8.5 %

Advance Auto Parts stock traded down $3.51 during mid-day 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 firm has a market capitalization 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. 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 company’s 50 day simple moving average is $39.02 and its 200-day simple moving average is $54.24.

Advance Auto Parts Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently commented on AAP. UBS Group raised their target price on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday. Wedbush reissued an “outperform” rating and set a $55.00 price objective on shares of Advance Auto Parts in a report on Friday. Truist Financial reduced their target price on shares of Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Finally, TD Cowen dropped their target price on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company 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.