Advance Auto Parts, Inc. (NYSE:AAP) Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. raised its stake in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 93.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,906 shares of the company's stock after buying an additional 10,606 shares during the period. Wesbanco Bank Inc.'s holdings in Advance Auto Parts were worth $859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its position in shares of Advance Auto Parts by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 26,258 shares of the company's stock worth $1,242,000 after purchasing an additional 281 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Advance Auto Parts by 6.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,223 shares of the company's stock worth $436,000 after purchasing an additional 596 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Advance Auto Parts during the fourth quarter valued at $8,947,000. Entropy Technologies LP purchased a new stake in Advance Auto Parts during the 4th quarter valued at about $244,000. Finally, Stephens Inc. AR increased its holdings in Advance Auto Parts by 30.2% in the 4th quarter. Stephens Inc. AR now owns 36,069 shares of the company's stock worth $1,706,000 after buying an additional 8,365 shares during the period. 88.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on AAP shares. Truist Financial reduced their price objective on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Redburn Partners upgraded Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price target for the company in a report on Tuesday, June 3rd. BMO Capital Markets reaffirmed a "market perform" rating and set a $50.00 target price (up from $40.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Evercore ISI lifted their price objective on shares of Advance Auto Parts from $35.00 to $45.00 and gave the stock an "in-line" rating in a research report on Friday, May 23rd. Finally, Wedbush restated an "outperform" rating and issued a $55.00 price objective on shares of Advance Auto Parts in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $46.01.

Advance Auto Parts Price Performance

AAP traded down $0.19 during midday trading on Thursday, reaching $51.33. 841,548 shares of the company's stock were exchanged, compared to its average volume of 2,467,364. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62. The business's 50-day moving average price is $37.98 and its 200 day moving average price is $41.40. Advance Auto Parts, Inc. has a 1-year low of $28.89 and a 1-year high of $67.03. The stock has a market capitalization of $3.08 billion, a PE ratio of 70.32, a P/E/G ratio of 1.98 and a beta of 1.06.

Advance Auto Parts (NYSE:AAP - Get Free Report) last announced its earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.59. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm's revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. As a group, equities analysts anticipate that Advance Auto Parts, Inc. will post -0.46 EPS for the current fiscal year.

Advance Auto Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.95%. Advance Auto Parts's payout ratio is -17.04%.

Advance Auto Parts 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.