Genuine Parts (NYSE:GPC) Receives $139.57 Average Price Target from Analysts

Shares of Genuine Parts (NYSE:GPC) have been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat reports. Six 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 analysts that have covered the stock in the last year is $139.57.

Several brokerages have issued reports on GPC. The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Finally, Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd.

Genuine Parts Stock Down 0.5 %

Shares of GPC stock opened at $121.22 on Thursday. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 15.60 and a beta of 0.94. The firm’s 50-day moving average is $125.55 and its 200-day moving average is $134.55. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the prior year, the company earned $2.49 EPS. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts during the third quarter valued at about $31,000. Concord Wealth Partners grew its holdings in shares of Genuine Parts by 79.3% during 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. Triad Wealth Partners LLC acquired a new position in Genuine Parts in the 2nd quarter valued at approximately $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts in the third quarter valued at $44,000. 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.