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

Advance Auto Parts, Inc. (NYSE:AAPGet Free Report) declared a quarterly dividend on Tuesday, May 21st, Zacks reports. Investors 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 yield of 1.71%. 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 payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

NYSE:AAP traded up $0.70 during midday trading on Wednesday, hitting $58.61. The company’s stock had a trading volume of 16,856 shares, compared to its average volume of 1,698,075. Advance Auto Parts has a fifty-two week low of $47.73 and a fifty-two week high of $88.56. The firm’s 50 day moving average is $67.38 and its 200-day moving average is $69.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 0.29. The firm has a market cap of $3.49 billion, a P/E ratio of 85.15, a P/E/G ratio of 1.14 and a beta of 1.20.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group upped their price objective on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Wedbush reiterated a “neutral” rating and set a $70.00 target price on shares of Advance Auto Parts in a research report on Friday, May 24th. Royal Bank of Canada decreased their target price on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 30th. StockNews.com upgraded Advance Auto Parts from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, Truist Financial decreased their target price on Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.80.

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Advance Auto Parts Company Profile

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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.

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Dividend History for Advance Auto Parts (NYSE:AAP)

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