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

Wesbanco Bank Inc. reduced its position in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 47.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hexagon Capital Partners LLC raised its position 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 purchasing an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Advance Auto Parts during the 1st quarter worth approximately $34,000. Mather Group LLC. grew its holdings in Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after purchasing an additional 596 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Advance Auto Parts during the 2nd quarter worth approximately $41,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Advance Auto Parts during the first quarter worth approximately $43,000. 88.75% of the stock is currently owned by institutional investors.

Advance Auto Parts Price Performance

Advance Auto Parts stock opened at $38.60 on Thursday. The firm’s fifty day moving average is $45.67 and its 200 day moving average is $60.32. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 55.94, a PEG 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.

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

Advance Auto Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, October 11th. Advance Auto Parts’s dividend payout ratio (DPR) is 144.93%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AAP shares. Wells Fargo & Company cut their price objective on shares of Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. 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 report on Friday, August 23rd. Mizuho reaffirmed a “neutral” rating and issued a $38.00 price objective (down from $45.00) on shares of Advance Auto Parts in a report on Thursday, September 12th. Roth Mkm restated a “neutral” rating and issued a $40.00 target price on shares of Advance Auto Parts in a research note on Wednesday. Finally, TD Cowen reduced their price target on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $55.36.

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.