Genuine Parts (NYSE:GPC) Receives Consensus Rating of “Hold” from Brokerages

Shares of Genuine Parts (NYSE:GPC) have received an average rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $161.14.

GPC has been the subject of a number of recent research reports. UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Wedbush lowered their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday. Evercore ISI lowered their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Finally, Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th.

Genuine Parts Stock Up 0.1 %

Shares of NYSE GPC opened at $136.69 on Friday. The business has a 50-day moving average of $139.70 and a 200-day moving average of $144.53. The firm has a market capitalization of $19.04 billion, a price-to-earnings ratio of 15.24 and a beta of 0.90. Genuine Parts has a 12 month low of $126.35 and a 12 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.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 EPS. Sell-side analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.93%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Hedge Funds Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. raised its holdings in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares in the last quarter. WD Rutherford LLC purchased a new stake in Genuine Parts in the first quarter worth $26,000. Union Savings Bank grew its stake in Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the period. Thompson Investment Management Inc. purchased a new stake in Genuine Parts in the first quarter worth $35,000. Finally, Stephens Consulting LLC grew its stake in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 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.