Genuine Parts (NYSE:GPC) Receives $137.63 Average PT from Analysts

Genuine Parts (NYSE:GPC) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $137.63.

GPC has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock.

Genuine Parts Stock Up 1.7 %

NYSE:GPC opened at $120.80 on Friday. The business’s fifty day moving average price is $121.07 and its 200 day moving average price is $124.47. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 18.67 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the business posted $2.26 EPS. On average, sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.41%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Institutional Investors Weigh In On Genuine Parts

Large investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc boosted its holdings in shares of Genuine Parts by 36.3% during the 3rd quarter. Prospera Financial Services Inc now owns 3,732 shares of the specialty retailer’s stock worth $522,000 after buying an additional 993 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Genuine Parts in the third quarter valued at about $1,407,000. PNC Financial Services Group Inc. increased its stake in shares of Genuine Parts by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 114,379 shares of the specialty retailer’s stock worth $15,976,000 after purchasing an additional 2,021 shares during the period. Citizens Financial Group Inc. RI lifted its position in shares of Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after purchasing an additional 103 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its stake in Genuine Parts by 1.3% during the 3rd quarter. King Luther Capital Management Corp now owns 9,808 shares of the specialty retailer’s stock valued at $1,370,000 after purchasing an additional 122 shares during the period. Institutional investors 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.