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

Advance Auto Parts (NYSE:AAP) issued its earnings results on Thursday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.53), Briefing.com reports. The company 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%. Advance Auto Parts’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.82) earnings per share.

Advance Auto Parts Stock Down 8.5 %

NYSE:AAP traded down $3.51 during trading hours on Friday, hitting $37.69. The stock had a trading volume of 5,899,565 shares, compared to its average volume of 2,786,713. The business has a 50 day simple moving average of $39.02 and a two-hundred day simple moving average of $54.24. Advance Auto Parts has a 1-year low of $35.59 and a 1-year high of $88.56. The company has a current ratio of 1.34, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.25 billion, a PE ratio of 51.63 and a beta of 1.17.

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.25 per share. 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 currently 136.99%.

Analyst Upgrades and Downgrades

AAP has been the topic of several research reports. TD Cowen dropped their price objective on shares of 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. Wells Fargo & Company cut their price target on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. JPMorgan Chase & Co. reduced their price objective on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Evercore ISI dropped their price objective 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. Finally, Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Advance Auto Parts in a research note on Friday. One equities research 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. Based on data from MarketBeat.com, the stock presently 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.