Genuine Parts (NYSE:GPC) Upgraded to Hold at Redburn Atlantic

Redburn Atlantic upgraded shares of Genuine Parts (NYSE:GPC) to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other research firms have also issued reports on GPC. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI lifted their price target 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. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. cut their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Up 0.2 %

Shares of NYSE GPC opened at $123.87 on Monday. The business has a 50-day simple moving average of $131.02 and a two-hundred day simple moving average of $138.84. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a market cap of $17.22 billion, a P/E ratio of 15.94 and a beta of 0.92. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 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 firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the firm posted $2.49 EPS. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. Research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.23%. Genuine Parts’s payout ratio is 51.48%.

Institutional Investors Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently modified their holdings of GPC. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the third quarter worth approximately $31,000. Concord Wealth Partners increased its stake in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the period. Triad Wealth Partners LLC bought a new stake in Genuine Parts during the 2nd quarter valued at $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts during the 3rd 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.