Genuine Parts (NYSE:GPC) Price Target Lowered to $135.00 at JPMorgan Chase & Co.

Genuine Parts (NYSE:GPC) had its target price cut by JPMorgan Chase & Co. from $162.00 to $135.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

A number of other analysts have also recently issued reports on the company. The Goldman Sachs Group decreased their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Evercore ISI raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday. UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Wedbush lowered their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $155.14.

Genuine Parts Stock Down 21.0 %

GPC stock opened at $113.02 on Tuesday. The company’s 50 day moving average is $139.12 and its two-hundred day moving average is $143.08. Genuine Parts has a twelve month low of $112.74 and a twelve 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 cap of $15.74 billion, a P/E ratio of 12.60 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results 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 company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. Research analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.54%. The ex-dividend date was Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

Hedge Funds Weigh In On Genuine Parts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC lifted its stake in shares of Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares during the period. North Star Investment Management Corp. boosted its stake 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 acquiring an additional 70 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after acquiring an additional 75 shares during the period. HBK Sorce Advisory LLC increased its stake in Genuine Parts by 1.8% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after purchasing an additional 80 shares in the last quarter. Finally, Dover Advisors LLC raised its holdings in Genuine Parts by 5.1% during the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after purchasing an additional 85 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

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.