Genuine Parts (NYSE:GPC) Receives $155.14 Average Target Price from Brokerages

Shares of Genuine Parts (NYSE:GPC) have earned an average rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $139.57.

GPC has been the subject of a number of research reports. UBS Group cut their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday. The Goldman Sachs Group cut their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday. Evercore ISI increased their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday. Wedbush dropped their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday.

Institutional Investors Weigh In On Genuine Parts

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wulff Hansen & CO. lifted its holdings in Genuine Parts by 13,732.0% in 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 during the period. Dimensional Fund Advisors LP lifted its holdings in Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after buying an additional 239,858 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after buying an additional 223,712 shares during the period. Hamlin Capital Management LLC lifted its holdings in Genuine Parts by 12.3% in the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after buying an additional 64,520 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in 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 worth $81,621,000 after buying an additional 580,262 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC opened at $114.28 on Wednesday. The stock has a 50-day moving average price of $137.22 and a 200-day moving average price of $142.18. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $15.92 billion, a P/E 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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the previous year, the company posted $2.49 earnings per share. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

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