Advance Auto Parts (AAP) Releases Earnings Results, Misses Expectations By $-0.10 EPS

Advance Auto Parts (AAP) reported quarterly earnings results on Thursday, May-19-2016. The company reported $2.51 earnings per share for the quarter, missing the analyst consensus estimate by $-0.10. Analysts had a consensus of $2.61. The company posted revenue of $2979.80 million in the period, compared to analysts expectations of $3004.77 million. The company’s revenue was down -1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.39 EPS.

Many Wall Street Analysts have commented on Advance Auto Parts. Advance Auto Parts was Upgraded by Goldman to ” Buy” on May 6, 2016. Gabelli & Co Initiated Advance Auto Parts on Apr 15, 2016 to “Hold”, Price Target of the shares are set at $192.Barclays Initiated Advance Auto Parts on Mar 31, 2016 to “Underweight”, Price Target of the shares are set at $130.

Advance Auto Parts opened for trading at $145.55 and hit $148.61 on the upside on Monday, eventually ending the session at $148.14, with a gain of 1.77% or 2.58 points. The heightened volatility saw the trading volume jump to 9,65,291 shares. Company has a market cap of $10,862 M.

In a different news, on Mar 14, 2016, William Harrison Carter (SVP, Bus Dev & Integration) sold 3,186 shares at $158.30 per share price. According to the SEC, on Mar 14, 2016, Jill A Livesay (SVP, Controller & CAO) sold 3,176 shares at $158.72 per share price. On Mar 1, 2016, Gilbert T Ray (director) sold 3,532 shares at $149.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Advance Auto Parts Inc. is a provider of automotive aftermarket parts. The company’s stores and branches offer a selection of brand name original equipment manufacturer (OEM) and private label 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 serves its do-it-for-me (commercial) customers and do-it-yourself (DIY) customers through a variety of channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites. As of January 3 2015 the Company’s operations are comprised of 5261 stores and 111 distribution branches which operate in the United States Canada Puerto Rico and the United States Virgin Islands primarily under the trade names Advance Auto Parts Carquest Autopart International and Worldpac.

Advance Auto Parts

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