Genuine Parts (NYSE:GPC) Given Consensus Rating of “Hold” by Analysts

Shares of Genuine Parts (NYSE:GPC) have been given an average recommendation of “Hold” by the eight brokerages that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $139.57.

A number of research firms have weighed in on GPC. JPMorgan Chase & Co. dropped their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lowered their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Truist Financial cut their price target 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.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $122.62 on Friday. The business’s fifty day simple moving average is $130.79 and its 200 day simple moving average is $138.44. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The firm has a market capitalization of $17.05 billion, a P/E ratio of 15.78 and a beta of 0.92.

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

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.26%. Genuine Parts’s payout ratio is 51.48%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GPC. Wulff Hansen & CO. boosted its holdings in Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares during the period. International Assets Investment Management LLC boosted its stake in Genuine Parts by 14,222.1% during the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after buying an additional 580,262 shares during the period. State Street Corp grew its position in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after buying an additional 401,180 shares in the last quarter. Boston Trust Walden Corp bought a new position in Genuine Parts in the 3rd quarter worth about $39,474,000. Finally, Natixis raised its holdings in shares of Genuine Parts by 768.4% in the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after acquiring an additional 279,930 shares in the last quarter. 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.