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

Advance Auto Parts (NYSE:AAP) issued its quarterly earnings results 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. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the business earned ($0.82) EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis.

Advance Auto Parts Price Performance

Shares of NYSE:AAP traded down $3.51 on Friday, hitting $37.69. The company’s stock had a trading volume of 5,899,565 shares, compared to its average volume of 2,786,713. 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 0.30. The company has a market capitalization of $2.25 billion, a PE ratio of 51.63 and a beta of 1.17. The company has a 50-day simple moving average of $39.02 and a 200 day simple moving average of $54.24.

Advance Auto Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a $0.25 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. Advance Auto Parts’s dividend payout ratio is currently 136.99%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. Truist Financial lowered their price objective on Advance Auto Parts from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday. Roth Mkm reiterated a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a research report on Wednesday, October 16th. UBS Group boosted their price target on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $45.00 price objective 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 issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $49.14.

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.