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

Advance Auto Parts, Inc. (NYSE:AAP) declared a quarterly dividend on Tuesday, May 21st, Zacks reports. Shareholders of record on Friday, July 12th will be given a dividend of 0.25 per share on Friday, July 26th. This represents a $1.00 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, July 12th.

Advance Auto Parts has increased its dividend by an average of 38.7% annually over the last three years. Advance Auto Parts has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Advance Auto Parts to earn $4.42 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 22.6%.

Advance Auto Parts Trading Up 1.4 %

AAP opened at $58.72 on Thursday. Advance Auto Parts has a 12 month low of $47.73 and a 12 month high of $88.56. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $67.10 and a 200 day moving average of $69.29. The firm has a market cap of $3.50 billion, a P/E ratio of 85.10, a P/E/G ratio of 1.14 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.02). The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. As a group, research analysts forecast that Advance Auto Parts will post 3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

AAP has been the topic of several analyst reports. Mizuho cut their price target on shares of Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. UBS Group raised their price target on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Truist Financial cut their price objective on Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Bank of America boosted their target price on shares of Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. Finally, Wedbush reiterated a “neutral” rating and set a $70.00 price objective on shares of Advance Auto Parts in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and a consensus price target of $64.79.

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.