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

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

Advance Auto Parts has increased its dividend payment by an average of 38.7% annually over the last three years. Advance Auto Parts has a dividend payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of AAP opened at $58.72 on Thursday. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. Advance Auto Parts has a fifty-two week low of $47.73 and a fifty-two week high of $88.56. The company has a market cap of $3.50 billion, a P/E ratio of 85.10, a PEG ratio of 1.14 and a beta of 1.20. The firm’s 50 day moving average price is $67.10 and its 200 day moving average price is $69.29.

Advance Auto Parts (NYSE:AAPGet Free Report) last released its earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts forecast that Advance Auto Parts will post 3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore ISI cut their target price on shares of Advance Auto Parts from $73.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. Truist Financial reduced their price objective on shares of Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Royal Bank of Canada dropped their target price on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, May 30th. Bank of America lifted their price target on Advance Auto Parts from $51.00 to $55.00 and gave the stock an “underperform” rating in a report on Thursday, May 30th. Finally, Mizuho cut their target price on Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating on the stock in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.79.

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About Advance Auto Parts

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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.

See Also

Dividend History for Advance Auto Parts (NYSE:AAP)

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