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

Advance Auto Parts (NYSE:AAP) released its 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. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.82) EPS.

Advance Auto Parts Stock Down 8.5 %

AAP stock traded down $3.51 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. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The firm has a 50 day moving average price of $39.02 and a two-hundred day moving average price of $54.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.34. The stock has a market cap of $2.25 billion, a P/E 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.65%. Advance Auto Parts’s dividend payout ratio is presently 136.99%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAP. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research note on Monday, November 11th. TD Cowen lowered their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. UBS Group raised their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday. Evercore ISI decreased their price target on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.