Advance Auto Parts, Inc. (NYSE:AAP) declared a quarterly dividend on Wednesday, August 19th, Wall Street Journal reports. Stockholders of record on Friday, September 18th will be paid a dividend of 0.25 per share on Friday, October 2nd. This represents a $1.00 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, September 17th.

Advance Auto Parts has a payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Advance Auto Parts to earn $9.20 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 10.9%.

Shares of NYSE:AAP opened at $156.88 on Wednesday. The firm has a market cap of $10.88 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 1.79 and a beta of 1.35. The firm’s fifty day moving average is $154.19 and its 200-day moving average is $132.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.46 and a current ratio of 1.44. Advance Auto Parts has a 52 week low of $71.33 and a 52 week high of $171.43.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 18th. The company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.95. Advance Auto Parts had a net margin of 4.71% and a return on equity of 14.78%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the firm earned $2.00 earnings per share. Advance Auto Parts’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Advance Auto Parts will post 8.16 EPS for the current year.

AAP has been the subject of several recent research reports. Nomura Instinet boosted their target price on shares of Advance Auto Parts from $107.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Argus boosted their target price on shares of Advance Auto Parts from $158.00 to $177.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada boosted their target price on shares of Advance Auto Parts from $155.00 to $170.00 in a research report on Thursday, August 13th. Nomura boosted their price target on shares of Advance Auto Parts from $107.00 to $130.00 in a report on Wednesday, May 20th. Finally, Guggenheim boosted their price target on shares of Advance Auto Parts from $158.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Advance Auto Parts currently has a consensus rating of “Hold” and a consensus price target of $151.76.

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.

Further Reading: Yield Curve

Dividend History for Advance Auto Parts (NYSE:AAP)

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