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.

Analyst Ratings Changes

AAP has been the topic of a number of research reports. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group reduced their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Advance Auto Parts in a report on Friday. Roth Mkm reiterated a “neutral” rating and set a $40.00 price objective on shares of Advance Auto Parts in a report on Wednesday, October 16th. Finally, Evercore ISI reduced 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 report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $49.14.

Advance Auto Parts Trading Down 8.5 %

Advance Auto Parts stock opened at $37.68 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 stock has a 50-day simple moving average of $39.02 and a 200 day simple moving average of $54.37. The stock has a market capitalization of $2.25 billion, a P/E ratio of 51.62, a PEG ratio of 1.33 and a beta of 1.17. Advance Auto Parts has a 52 week low of $35.59 and a 52 week high of $88.56.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the firm posted $1.43 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. Analysts expect that Advance Auto Parts will post 2.19 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

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

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.