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

Advance Auto Parts, Inc. (NYSE:AAP) announced 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 dividend yield of 2.66%. The ex-dividend date 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% indicating that its dividend is sufficiently covered by earnings. 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 Advance Auto Parts stock traded down $3.55 during trading on Friday, reaching $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 market capitalization of $2.25 billion, a price-to-earnings ratio of 3,819.00, a P/E/G ratio of 1.33 and a beta of 1.17. Advance Auto Parts has a 52 week low of $35.59 and a 52 week high of $88.56. The stock has a fifty day moving average price of $39.06 and a two-hundred day moving average price of $54.63. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69.

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

Analyst Ratings Changes

AAP has been the topic of several research reports. Roth Mkm reaffirmed a “neutral” rating and set a $40.00 price target on shares of Advance Auto Parts in a report on Wednesday, October 16th. Royal Bank of Canada lowered their price objective on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating on the stock in a report on Monday. DA Davidson reiterated a “neutral” rating and set a $45.00 price objective on shares of Advance Auto Parts in a report on Friday. JPMorgan Chase & Co. reduced their target price on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $38.00 price target (down previously from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.