Advance Auto Parts, Inc. (AAP) Anticipated to Display Earnings of $1.74 Per Share

Advance Auto Parts, Inc. is anticipated to report earnings of $1.74 per share for the current quarter of the fiscal year, according to expert analysts. Estimates for Advance Auto Parts’ revenue, with the lowest at $1.67 and the highest at $1.79. Advance Auto Parts reported earnings of $1.43 per share during the same period last year, which suggests a positive growth rate of more than 21%. The business is expected to report the results by early November.

Analysts anticipate that Advance Auto Parts will display full-year earnings of $6.94 per share with estimates ranging from $6.78 to $7.20. For the next financial year, it is expected that the firm will show earnings of approximately $8 per share, within the range of $7.30 to $9.34.

Advance Auto Parts last declared its earnings on August 14th 2018. The company reported $1.97 for every share (EPS) for the quarter, beating the average estimate of $1.86 by just $0.11. The company had revenue of nearly $2.3 billion during this period, compared to analysts’ expectations of around $2.2 billion. Advance Auto Parts has had a net margin of 5.6% and a return of around 13.4%. Advance Auto Parts’ quarterly earnings were also up 2.8%. At the same time in the previous year, the business reported $1.48 for each share.

Many brokerages have declared reports on AAP recently. Guggenheim also reissued a “buy” rating and suggested a target price of $174.00 on Advance Auto Parts shares on August 16th 2018. Stephens issued a “hold” rating and suggested a target price of $155.00 on Advance Auto Parts shares on the same day.

On the other hand, Deutsche Bank increased their estimated target price on shares of Advance Auto Parts from their earlier value of $155.00 to $171.00 and gave Advance Auto Parts a “buy” rating on August 15th 2018. Morgan Stanley also raised their target price on Advance Auto Parts shares from $140.00 to $170.00 and gave an “overweight” rating to the firm on the same day.

In addition to this, the Royal Bank of Canada also made an increase to their target price on Advance Auto Parts shares to $170.00 and rated the company “outperform” on Thursday, August the 16th. Some analysts have rated the stock with a “sell” rating, while more have given a hold rating and a majority thirteen have issued a buy rating for these shares. The average consensus is a rating of “Hold” at a price target average of $143.11.

Posted by Abhishek Budholiya

Abhishek Budholiya is a tech blogger, digital marketing pro, and has contributed to numerous tech magazines. Currently, as a technology and digital branding consultant, he offers his analysis on the tech market research landscape. His forte is analyzing the commercial viability of a new breakthrough, a trait you can see in his writing. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.