Advance Auto Parts, Inc. (AAP) to Issue Quarterly Dividend of $0.25 on July 26th

Advance Auto Parts, Inc. (NYSE:AAP) announced 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 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, July 12th.

Advance Auto Parts has increased its dividend payment by an average of 38.7% per year 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. 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 Stock Up 1.2 %

Shares of AAP traded up $0.70 during midday trading on Wednesday, reaching $58.61. 16,856 shares of the company were exchanged, compared to its average volume of 1,698,075. The stock has a 50-day moving average price of $67.38 and a 200-day moving average price of $69.37. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 85.15, a P/E/G ratio of 1.14 and a beta of 1.20. Advance Auto Parts has a 1-year low of $47.73 and a 1-year 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.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.43 billion. Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. Research analysts expect that Advance Auto Parts will post 3.72 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on AAP shares. Mizuho cut their price target on Advance Auto Parts from $78.00 to $64.00 and set a “neutral” rating on the stock in a research note on Monday, June 10th. Wedbush reiterated a “neutral” rating and issued a $70.00 price target on shares of Advance Auto Parts in a research note on Friday, May 24th. Bank of America upped their price objective on Advance Auto Parts from $51.00 to $55.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. 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 note on Thursday, May 30th. Finally, UBS Group upped their price objective on Advance Auto Parts from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.80.

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.