Genuine Parts (NYSE:GPC) Price Target Cut to $138.00 by Analysts at The Goldman Sachs Group

Genuine Parts (NYSE:GPC) had its target price trimmed by The Goldman Sachs Group from $162.00 to $138.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

Several other research analysts also recently commented on GPC. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI raised their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Truist Financial reissued a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Up 2.8 %

Shares of GPC opened at $116.24 on Wednesday. The business’s 50 day moving average is $138.23 and its 200 day moving average is $142.63. 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 has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market capitalization of $16.19 billion, a PE ratio of 12.96 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the previous year, the business earned $2.49 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared 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 was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.44%. Genuine Parts’s payout ratio is presently 44.59%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GPC. Wulff Hansen & CO. lifted its holdings in shares of 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 worth $216,675,000 after acquiring an additional 1,555,149 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after purchasing an additional 239,858 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in Genuine Parts by 29.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after purchasing an additional 223,712 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after purchasing an additional 580,262 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Genuine Parts by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock valued at $75,326,000 after buying an additional 13,753 shares during the period. 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.