Genuine Parts (NYSE:GPC) Price Target Raised to $128.00

Genuine Parts (NYSE:GPC) had its price objective hoisted by Evercore ISI from $125.00 to $128.00 in a research report released on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the specialty retailer’s stock.

Several other equities analysts have also weighed in on the stock. Truist Financial raised their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $135.00.

Genuine Parts Price Performance

NYSE GPC opened at $118.67 on Tuesday. The company has a 50-day moving average price of $121.17 and a two-hundred day moving average price of $123.69. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 18.34 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the firm earned $2.26 EPS. Analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.47%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, March 7th. Genuine Parts’s dividend payout ratio is 63.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at $25,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts during the fourth quarter valued at $28,000. Compass Planning Associates Inc purchased a new position in Genuine Parts in the fourth quarter valued at about $29,000. Finally, Synergy Asset Management LLC acquired a new position in Genuine Parts in the 4th quarter worth about $32,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.