Advance Auto Parts, Inc. (NYSE:AAP) Announces $0.25 Quarterly Dividend

Advance Auto Parts, Inc. (NYSE:AAP) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Investors of record on Friday, January 10th will be given a dividend of 0.25 per share on Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, January 10th.

Advance Auto Parts has increased its dividend by an average of 38.7% per year over the last three years. Advance Auto Parts has a dividend payout ratio of 36.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Advance Auto Parts to earn $2.97 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 33.7%.

Advance Auto Parts Stock Performance

Shares of Advance Auto Parts stock opened at $37.68 on Friday. Advance Auto Parts has a 12 month low of $35.59 and a 12 month high of $88.56. The stock has a market cap of $2.25 billion, a PE ratio of 51.62, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $39.02 and a 200-day simple moving average of $54.37.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank of Canada decreased their target price on Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Roth Capital upgraded shares of Advance Auto Parts to a “hold” rating in a research note on Tuesday, October 15th. TD Cowen cut their target price on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.14.

Advance Auto Parts Company Profile

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.