Advance Auto Parts, Inc (NYSE:AAP) stock plunged 3.9% on Monday after the auto part retailer warned that its Q3 earnings per share will plunge over 14% when it report quarterly results on Nov 8.
The Roanoke, Virginia based company also anticipates a 0.5$ drop in Q3 revenue due to continued soft sales, and the corporation cut its full-year earnings forecasts one more.
Shares of the company plunged $2.65 to settle in Monday morning trading at $65.78.
Advance reported that it anticipates Q3 earnings per share to be $1.21, which is 14.2% below the $1.41 the corporation made in earnings in previous year.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. The Pep Boys – Manny, Moe & Jack (NYSE:PBY) fell -3.64% to settle at $9.80, O’Reilly Automotive Inc (NASDAQ:ORLY) moved down -0.32% to end at $80.32 while AutoZone, Inc. (NYSE:AZO) plunged -0.87% to finish at $365.80 on Monday.
Advance Auto Parts, Inc. (NYSE:AAP) on Oct 22, 2012 decreased -3.33% to the closing price of $66.15. The overall volume in the last trading session was 2.88 million shares. Its fifty two weeks range was $60.87 – $93.08. The total market capitalization remained at $4.85 billion.
AAP is ahead of its 52-week low with 8.77% and lagging behind from its 52-week high price with -28.81%. AAP’s last month’s stock price volatility remained 1.71%. In its share capital AAP has 73.33 million outstanding shares, among them 73.05 million shares have been floated in market exchange. AAP’s stock’s institutional ownership remained 98.45% while insider ownership included 0.64%.
The stock price of AAP is moving down from its 20 days moving average with -3.49% and remote negatively from 50 days moving average with -5.05%. AAP’s current year’s earnings per share experienced an addition with 29.21% while its current quarter performance remained at -7.22%. Company’s beta coefficient included 0.54. Beta factors measure the amount of market risk associated with market trade.
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