Genuine Parts (NYSE:GPC) Receives Average Recommendation of “Hold” from Analysts

Genuine Parts (NYSE:GPC) has received a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $139.57.

GPC has been the topic of a number of research analyst reports. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial cut their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GPC. Wulff Hansen & CO. lifted its position in Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after buying an additional 1,555,149 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after acquiring an additional 580,262 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after acquiring an additional 368,470 shares during the last quarter. Boston Trust Walden Corp bought a new stake in Genuine Parts during the third quarter worth about $39,474,000. Finally, Natixis raised its holdings in Genuine Parts by 768.4% during the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after acquiring an additional 279,930 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 1.0 %

Shares of NYSE:GPC opened at $114.24 on Wednesday. The company has a 50 day moving average price of $137.22 and a two-hundred day moving average price of $142.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17. The company has a market capitalization of $15.91 billion, a PE ratio of 12.74 and a beta of 0.90. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.49 EPS. Analysts forecast that Genuine Parts will post 8.1 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.