Advance Auto Parts (NYSE:AAP) Issues Quarterly Earnings Results

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

Advance Auto Parts Stock Performance

AAP stock traded down $3.51 during trading on Friday, hitting $37.69. 5,899,565 shares of the company’s stock traded hands, compared to its average volume of 2,786,713. The company has a quick ratio of 0.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. Advance Auto Parts has a 52 week low of $35.59 and a 52 week high of $88.56. The stock has a fifty day moving average price of $39.02 and a two-hundred day moving average price of $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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have issued reports on AAP. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. Truist Financial decreased 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. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research report on Friday. Wells Fargo & Company decreased their target price on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Mizuho reissued a “neutral” rating and issued a $38.00 target price (down from $45.00) on shares of Advance Auto Parts in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.