Genuine Parts (NYSE:GPC) Price Target Lowered to $160.00 at Evercore ISI

Genuine Parts (NYSE:GPC) had its target price lowered by Evercore ISI from $165.00 to $160.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has an in-line rating on the specialty retailer’s stock.

A number of other analysts have also commented on GPC. Truist Financial lifted their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a buy rating in a research report on Friday, April 19th. Jefferies Financial Group raised their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a hold rating in a report on Friday, April 19th. Wedbush restated a neutral rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, StockNews.com upgraded Genuine Parts from a hold rating to a buy rating in a report on Friday, May 24th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $169.00.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $135.98 on Tuesday. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57. The firm has a market cap of $18.94 billion, a PE ratio of 15.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The business has a fifty day moving average of $147.42 and a 200-day moving average of $146.53.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $2.14 earnings per share. On average, equities research analysts predict that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC raised its position in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 66 shares during the last quarter. North Star Investment Management Corp. increased its position in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares during the last quarter. CHICAGO TRUST Co NA increased its position in shares of Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after purchasing an additional 71 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after purchasing an additional 74 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its position in shares of Genuine Parts by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

About Genuine Parts

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.