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Wall Street Analysts’ Estimates for Advance Auto Parts’ Q1 2018

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Wall Street Analysts’ Estimates for Advance Auto Parts’ Q1 2018 PART 1 OF 5

How Advance Auto Parts Stock Looks before Its Q1 2018 Results

Advance Auto Parts

Advance Auto Parts (AAP), one of the top three US auto parts retailers by market capitalization, is set to release its first-quarter earnings on May 22. Before we explore Wall Street analysts’ estimates for the company’s upcoming earnings, let’s take a quick look at its recent stock price movement.

How Advance Auto Parts Stock Looks before Its Q1 2018 Results

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Positive movement

On May 14, Advance Auto Parts (AAP) stock was trading at $121.61 with an ~6.3% positive return in May so far. AAP’s month-to-date performance wasn’t much different than its direct US peers (XLY) O’Reilly Automotive (ORLY) and AutoZone (AZO). O’Reilly Automotive and AutoZone both increased 6.6% month-to-date.

In contrast, Advance Auto Parts has outperformed its peers on a year-to-date basis with 22.0% gains. During the same period, ORLY has risen 13.4% while AZO decreased 6.4% YTD.

Despite AAP’s weakening profit margins, investors’ high expectations from its first-quarter earnings could be the primary reason why its stock has outperformed its peers in 2018 so far. In 2017, AAP witnessed a massive drop of about 41.1%, which was much worse than the 19.4% return delivered by the S&P 500 benchmark last year.

Tesla (TSLA) released its first-quarter earnings earlier this month. Please read Market Realist’s special earnings review series Tesla’s 1Q18 Results Didn’t Boost Investors’ Confidence to learn more.

Series overview

In this series, we’ll take a quick look at Wall Street analysts’ estimates for Advance Auto Parts’ (AAP) first-quarter earnings. We’ll also see analysts’ revenues and profit margins estimates for the company. At the end of the series, we’ll explore analysts’ recommendations for Advance Auto Parts stock before its first-quarter earnings event.

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