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

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 paid a dividend of 0.25 per share on Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, January 10th.

Advance Auto Parts has raised 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 36.5% meaning its dividend is sufficiently covered by earnings. Research 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 Down 8.6 %

Shares of NYSE AAP traded down $3.55 during trading hours on Friday, hitting $37.65. The stock had a trading volume of 5,185,555 shares, compared to its average volume of 2,050,627. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The company has a market capitalization of $2.25 billion, a P/E ratio of 3,819.00, a P/E/G ratio of 1.33 and a beta of 1.17. The firm’s 50-day moving average price is $39.06 and its two-hundred day moving average price is $54.63. Advance Auto Parts has a 52 week low of $35.59 and a 52 week high of $88.56.

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Roth Mkm reiterated a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a research report on Friday. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group dropped their target price on shares of Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. 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.com, the company presently has a consensus rating of “Hold” and an average target price of $49.14.

About Advance Auto Parts

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.