Advance Auto Parts, Inc. (NYSE:AAP – Get Free Report) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Shareholders of record on Friday, January 12th will be paid a dividend of 0.25 per share on Friday, January 26th. This represents a $1.00 annualized dividend and a yield of 1.81%.
Advance Auto Parts has increased its dividend payment by an average of 192.4% annually over the last three years. Advance Auto Parts has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Advance Auto Parts to earn $5.44 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 18.4%.
Advance Auto Parts Stock Down 5.4 %
Shares of AAP opened at $55.22 on Wednesday. The company has a market capitalization of $3.28 billion, a PE ratio of 10.10, a PEG ratio of 1.06 and a beta of 1.14. Advance Auto Parts has a 12 month low of $47.73 and a 12 month high of $161.73. The stock’s 50-day moving average price is $55.19 and its two-hundred day moving average price is $72.23. The company has a current ratio of 1.26, a quick ratio of 0.25 and a debt-to-equity ratio of 0.66.
Analyst Ratings Changes
AAP has been the subject of several research analyst reports. Truist Financial lowered their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, October 5th. Royal Bank of Canada lowered their price objective on Advance Auto Parts from $84.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 24th. Bank of America decreased their target price on Advance Auto Parts from $75.00 to $60.00 in a research report on Thursday, September 28th. Evercore ISI decreased their target price on Advance Auto Parts from $80.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, September 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Advance Auto Parts in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.25.
Insider Buying and Selling at Advance Auto Parts
In other Advance Auto Parts news, Director Eugene I. Lee, Jr. bought 8,670 shares of the stock in a transaction on Wednesday, September 13th. The shares were acquired at an average price of $57.65 per share, with a total value of $499,825.50. Following the acquisition, the director now directly owns 19,430 shares of the company’s stock, valued at approximately $1,120,139.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.63% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Cetera Advisor Networks LLC increased its holdings in shares of Advance Auto Parts by 94.8% in the second quarter. Cetera Advisor Networks LLC now owns 3,234 shares of the company’s stock worth $227,000 after purchasing an additional 1,574 shares during the period. Financial Advocates Investment Management bought a new position in shares of Advance Auto Parts in the fourth quarter worth $214,000. Enlightenment Research LLC bought a new position in shares of Advance Auto Parts in the first quarter worth $212,000. Virtu Financial LLC bought a new position in shares of Advance Auto Parts in the first quarter worth $209,000. Finally, Arrow Investment Advisors LLC increased its holdings in shares of Advance Auto Parts by 15.2% in the first quarter. Arrow Investment Advisors LLC now owns 1,648 shares of the company’s stock worth $200,000 after purchasing an additional 217 shares during the period. Institutional investors own 88.75% of the company’s stock.
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.
- Five stocks we like better than Advance Auto Parts
- Stock Analyst Ratings and Canadian Analyst Ratings
- 5 must-have next-gen technologies that institutions are buying
- Find and Profitably Trade Stocks at 52-Week Lows
- 3 intriguing late-week earnings plays for short-term traders
- P/E Ratio Calculation: How to Assess Stocks
- Datadog is about to hit 52-week highs, and there’s more to come
Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.