Advance Auto Parts, Inc. (AAP) To Go Ex-Dividend on January 10th

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 given a dividend of 0.25 per share on Friday, January 24th. This represents a $1.00 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, January 10th.

Advance Auto Parts has raised its dividend by an average of 38.7% annually over the last three years. Advance Auto Parts has a payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

AAP stock opened at $37.69 on Friday. The stock has a market capitalization of $2.25 billion, a PE ratio of 51.63, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. Advance Auto Parts has a 12-month low of $35.59 and a 12-month high of $88.56. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.69. The stock’s 50 day simple moving average is $39.02 and its 200 day simple moving average is $54.24.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.22). The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate 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 was down .1% compared to the same quarter last year. During the same period last year, the company posted $1.43 earnings per share. As a group, research analysts forecast that Advance Auto Parts will post 2.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AAP. The Goldman Sachs Group lowered their price target on Advance Auto Parts from $60.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday. UBS Group increased their price target on Advance Auto Parts from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Friday. Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of Advance Auto Parts in a report on Friday. TD Cowen lowered their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. 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 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. Based on data from MarketBeat, Advance Auto Parts has a consensus rating of “Hold” and a consensus price target 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.