Wesbanco Bank Inc. Has $441,000 Position in Advance Auto Parts, Inc. (NYSE:AAP)

Wesbanco Bank Inc. trimmed its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 47.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,300 shares of the company’s stock after selling 10,222 shares during the period. Wesbanco Bank Inc.’s holdings in Advance Auto Parts were worth $441,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AAP. Kovack Advisors Inc. boosted its position in Advance Auto Parts by 0.7% during the first quarter. Kovack Advisors Inc. now owns 22,727 shares of the company’s stock valued at $1,934,000 after purchasing an additional 150 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Advance Auto Parts by 28.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 895 shares of the company’s stock valued at $76,000 after buying an additional 196 shares in the last quarter. Diversified Trust Co increased its holdings in Advance Auto Parts by 3.5% during the second quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock worth $430,000 after buying an additional 232 shares during the last quarter. OLD National Bancorp IN raised its position in Advance Auto Parts by 6.8% during the second quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after acquiring an additional 237 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Advance Auto Parts by 267.7% in the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock valued at $30,000 after acquiring an additional 257 shares during the last quarter. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Price Performance

NYSE:AAP opened at $38.60 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.30 and a current ratio of 1.23. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 55.94, a P/E/G ratio of 1.25 and a beta of 1.16. Advance Auto Parts, Inc. has a 52 week low of $36.40 and a 52 week high of $88.56. The firm’s 50-day simple moving average is $45.67 and its 200 day simple moving average is $60.32.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post 2.19 earnings per share for the current year.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s payout ratio is currently 144.93%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAP. TD Cowen lowered their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Wells Fargo & Company dropped their price objective on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Truist Financial reduced their target price on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. Evercore ISI dropped their price target on Advance Auto Parts from $64.00 to $60.00 and set an “in-line” rating on the stock in a research note on Friday, August 23rd. Finally, Wedbush raised shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and a consensus price target of $55.36.

Advance Auto Parts Company Profile

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.