Gapper AAP to rpt bmo, let's see if they can beat with this climbing chart
Advance Auto Parts (AAP).
The auto retailer will roll out its fourth-quarter results before the market opens on Thursday. Analysts are looking for earnings to surge 32% to 75 cents per share. The consensus estimates call for revenue to climb 4% from a year ago to $1.32 billion.
Roanoke, Va.-based Advance Auto Parts has almost 4,000 stores in 39 states, Puerto Rico and the Virgin Islands.
Its stock, which has risen 60% since mid-August, has been trading near 80 a share, just shy of the all-time reached last week.
On paper, however, things do not appear so rosy for parts retailers.
Gasoline prices remain high. The number of vehicle miles driven in the U.S. fell 1.4% in November, the most recent data available. And automakers are selling more new cars, which typically get served at the dealers while they're still under warranty.
But the average age of vehicles is climbing — with American passenger cars now an average age of 11 years old, and light trucks right behind them at 10.4 years old, according to data firm Polk. That means more off-warranty miles driven, the retailers say.
Last week, Advance Auto competitor O'Reilly Automotive (ORLY) beat views, citing those older cars still moving after their warranties have expired. Its same-store sales growth slowed in the quarter. But that company thinks Americans are impressed with the improved engineering of cars over the past decade and likely will continue to hold on to vehicles longer, even as the economy improves.
AutoZone (AZO) will report fiscal second-quarter results on Feb. 28.
The Pep Boys — Manny, Moe & Jack (PBY) chain last month agreed to a private equity buyout for 15 a share, sending its shares up near a 52-week high
Tanker SCEI on today's over 30% move: InPlay: Sino Clean Energy announced Thornhill Capital concluded that it is unlikely that the Company's fixed asset balances as described in the Company's Form 10-K and Form 10-Q are materially misstated Briefing.com