Wesbanco Bank Inc. Has $859,000 Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Wesbanco Bank Inc. grew its position 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. The fund owned 21,906 shares of the company's stock after purchasing 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 SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAP. Allworth Financial LP grew its position in Advance Auto Parts by 1,543.4% in the 4th quarter. Allworth Financial LP now owns 871 shares of the company's stock worth $40,000 after purchasing an additional 818 shares during the last quarter. Vision Financial Markets LLC bought a new position in Advance Auto Parts in the 4th quarter worth about $42,000. Advisory Services Network LLC bought a new position in Advance Auto Parts in the 4th quarter worth about $46,000. Financial Management Professionals Inc. bought a new position in Advance Auto Parts in the 1st quarter worth about $49,000. Finally, Blue Trust Inc. raised its stake in shares of Advance Auto Parts by 38.9% during the fourth quarter. Blue Trust Inc. now owns 1,674 shares of the company's stock valued at $79,000 after purchasing an additional 469 shares in the last quarter. Institutional investors own 88.75% of the company's stock.

Advance Auto Parts Trading Down 4.7%

NYSE AAP traded down $2.40 on Friday, hitting $48.41. 2,127,383 shares of the stock were exchanged, compared to its average volume of 2,478,258. Advance Auto Parts, Inc. has a 52-week low of $28.89 and a 52-week high of $67.03. 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 company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 66.31, a P/E/G ratio of 1.98 and a beta of 1.06. The company's 50-day moving average price is $38.71 and its two-hundred day moving average price is $41.49.

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

Advance Auto Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, July 11th. Advance Auto Parts's payout ratio is presently -17.04%.

Analysts Set New Price Targets

AAP has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on shares of Advance Auto Parts from $45.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. BMO Capital Markets reiterated a "market perform" rating and issued a $50.00 price objective (up from $40.00) on shares of Advance Auto Parts in a report on Friday, May 23rd. Redburn Partners upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and set a $45.00 price objective for the company in a report on Tuesday, June 3rd. Bank of America increased their price objective on shares of Advance Auto Parts from $33.00 to $39.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. Finally, Truist Financial decreased their price objective on shares of Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Advance Auto Parts presently has an average rating of "Hold" and a consensus price target of $46.01.

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.