Genuine Parts (NYSE:GPC) Receives $135.88 Average Target Price from Analysts

Genuine Parts (NYSE:GPC) has been assigned an average rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $131.00.

Several research analysts have recently commented on the company. Evercore ISI raised Genuine Parts from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $128.00 to $135.00 in a report on Friday, April 4th. Truist Financial boosted their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group restated a “sell” rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday.

Genuine Parts Stock Up 1.6 %

Shares of NYSE GPC opened at $114.02 on Wednesday. The business has a fifty day moving average of $119.81 and a two-hundred day moving average of $121.22. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $163.86. The stock has a market cap of $15.82 billion, a PE ratio of 17.62 and a beta of 0.82.

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

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Friday, March 7th. Genuine Parts’s payout ratio is currently 63.68%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GPC. Strategic Wealth Partners Ltd. lifted its holdings in Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer’s stock valued at $302,000 after buying an additional 98 shares during the period. Hartford Financial Management Inc. raised its position in shares of Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after acquiring an additional 99 shares during the last quarter. Veracity Capital LLC lifted its stake in shares of Genuine Parts by 4.9% in the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer’s stock valued at $256,000 after purchasing an additional 100 shares during the period. New York Life Investment Management LLC boosted its position in shares of Genuine Parts by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock worth $2,188,000 after purchasing an additional 108 shares during the last quarter. Finally, Grimes & Company Inc. grew its stake in shares of Genuine Parts by 3.3% during the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock worth $408,000 after purchasing an additional 111 shares during the period. Institutional investors own 78.83% of the company’s stock.

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.