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

Advance Auto Parts (NYSE:AAP) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -0.600-0.000 for the period, compared to the consensus 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

AAP has been the topic of several research analyst reports. Wedbush upgraded Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Tuesday, October 15th. Wells Fargo & Company reduced their price target 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. Roth Mkm reaffirmed a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a research note on Wednesday, October 16th. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Finally, Mizuho reaffirmed a “neutral” rating and issued 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 equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.08.

Advance Auto Parts Price Performance

Shares of NYSE: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 50-day simple moving average of $39.06 and a 200-day simple moving average of $54.63. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The stock has a market capitalization 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.

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

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.