Advance Auto Parts (NYSE:AAP - Get Free Report) posted its earnings results on Thursday. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.59, RTT News reports. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The business's quarterly revenue was down 24.2% on a year-over-year basis. Advance Auto Parts updated its FY 2025 guidance to 1.500-2.500 EPS.
Advance Auto Parts Stock Up 57.8%
Shares of Advance Auto Parts stock opened at $49.41 on Friday. The business has a 50-day moving average price of $34.41 and a 200 day moving average price of $40.30. Advance Auto Parts has a fifty-two week low of $28.89 and a fifty-two week high of $71.62. The firm has a market cap of $2.96 billion, a P/E ratio of 67.69, a P/E/G ratio of 1.98 and a beta of 0.93. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Wedbush reiterated an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a report on Monday, March 3rd. Evercore ISI dropped their price objective on shares of Advance Auto Parts from $37.00 to $35.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Citigroup decreased their target price on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. BMO Capital Markets lowered their price target on shares of Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating for the company in a report on Thursday, February 27th. Finally, Truist Financial cut their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $44.50.
Check Out Our Latest Stock Analysis on Advance Auto Parts
Insiders Place Their Bets
In related news, Director Eugene I. Lee, Jr. purchased 14,640 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $34.15 per share, with a total value of $499,956.00. Following the acquisition, the director now owns 34,070 shares in the company, valued at approximately $1,163,490.50. This trade represents a 75.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Shane M. Okelly acquired 1,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the purchase, the chief executive officer now owns 183,121 shares in the company, valued at $6,737,021.59. The trade was a 0.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Advance Auto Parts
Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Advance Auto Parts by 327.7% during the first quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company's stock worth $14,230,000 after acquiring an additional 278,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Advance Auto Parts by 14.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company's stock valued at $7,096,000 after purchasing an additional 23,018 shares during the period. Finally, Royal Bank of Canada grew its position in Advance Auto Parts by 107.2% in the 1st quarter. Royal Bank of Canada now owns 79,558 shares of the company's stock worth $3,119,000 after purchasing an additional 41,157 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.
About Advance Auto Parts
(
Get Free Report)
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.
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