Genuine Parts (NYSE:GPC) PT Lowered to $125.00 at UBS Group

Genuine Parts (NYSE:GPC) had its price target reduced by UBS Group from $145.00 to $125.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

GPC has been the topic of a number of other reports. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Wedbush dropped their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI raised 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. Truist Financial reiterated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group reduced their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Performance

NYSE:GPC opened at $114.28 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a 50 day simple moving average of $137.22 and a two-hundred day simple moving average of $142.18. The company has a market capitalization of $15.92 billion, a PE ratio of 12.74 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. Research analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. WD Rutherford LLC acquired a new stake in shares of Genuine Parts in the 1st quarter worth about $26,000. Stephens Consulting LLC increased its holdings in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Concord Wealth Partners raised its stake in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in shares of Genuine Parts during the second quarter valued at approximately $40,000. 78.83% of the stock is owned by 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.