Genuine Parts (NYSE:GPC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Genuine Parts (NYSE:GPC) have been given an average recommendation of “Hold” by the seven research firms that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $161.14.

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. The Goldman Sachs Group reduced their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Wedbush reduced their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th.

Genuine Parts Stock Up 0.7 %

Shares of NYSE:GPC opened at $143.26 on Tuesday. The firm has a fifty day moving average of $139.08 and a 200 day moving average of $146.26. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The firm has a market capitalization of $19.96 billion, a PE ratio of 15.97 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $2.44 earnings per share. As a group, research analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.79%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Institutional Investors Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPC. Assetmark Inc. boosted its holdings in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares in the last quarter. WD Rutherford LLC bought a new position in shares of Genuine Parts during the first quarter valued at approximately $26,000. Union Savings Bank lifted its holdings in shares of Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts in the 1st quarter worth approximately $35,000. Finally, Stephens Consulting LLC boosted its position in shares of Genuine Parts by 740.7% in 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. 78.83% of the stock is owned by hedge funds and other 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.