Advance Auto Parts Inc (AAP) Plans Quarterly Dividend of $0.06
Advance Auto Parts Inc (NYSE:AAP) declared a quarterly dividend on Tuesday, August 15th, Wall Street Journal reports. Stockholders of record on Friday, September 22nd will be paid a dividend of 0.06 per share on Friday, October 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, September 21st.
Advance Auto Parts has a payout ratio of 3.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Advance Auto Parts to earn $7.67 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 3.1%.
Advance Auto Parts (NYSE:AAP) opened at 87.08 on Wednesday. The company has a market capitalization of $6.42 billion, a P/E ratio of 15.78 and a beta of 0.87. Advance Auto Parts has a 12 month low of $82.21 and a 12 month high of $177.83. The stock’s 50 day moving average price is $107.28 and its 200-day moving average price is $136.42. Advance Auto Parts also saw some unusual options trading on Monday. Stock traders acquired 13,082 call options on the company. This is an increase of approximately 943% compared to the typical volume of 1,254 call options.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by $0.07. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the firm posted $1.90 EPS. The company’s revenue was up .3% on a year-over-year basis. On average, equities research analysts predict that Advance Auto Parts will post $6.33 EPS for the current fiscal year.
AAP has been the subject of a number of recent research reports. UBS AG reissued a “buy” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advance Auto Parts in a research note on Wednesday, May 17th. Gabelli raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Thursday, April 20th. Deutsche Bank AG lowered their target price on Advance Auto Parts from $192.00 to $164.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, May 31st. Finally, Credit Suisse Group set a $150.00 target price on Advance Auto Parts and gave the company a “buy” rating in a research note on Monday, June 26th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Advance Auto Parts has a consensus rating of “Hold” and an average target price of $133.83.
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In other news, Director Eugene I. Lee, Jr. bought 1,895 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was purchased at an average price of $132.18 per share, with a total value of $250,481.10. Following the transaction, the director now owns 4,398 shares of the company’s stock, valued at $581,327.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Adriana Karaboutis bought 367 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was purchased at an average cost of $135.28 per share, with a total value of $49,647.76. Following the transaction, the director now directly owns 3,043 shares in the company, valued at approximately $411,657.04. The disclosure for this purchase can be found here. Insiders bought a total of 369,462 shares of company stock valued at $49,617,073 in the last three months. Corporate insiders own 4.50% of the company’s stock.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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