Genuine Parts (NYSE:GPC) Price Target Lowered to $160.00 at Evercore ISI

Genuine Parts (NYSE:GPC) had its price objective lowered by Evercore ISI from $165.00 to $160.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an in-line rating on the specialty retailer’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Genuine Parts from a hold rating to a buy rating in a research note on Friday, May 24th. Wedbush restated a neutral rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Truist Financial raised their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a buy rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group raised their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a hold rating in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $169.00.

Genuine Parts Stock Performance

Shares of GPC opened at $135.98 on Tuesday. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $170.57. The firm has a fifty day simple moving average of $147.42 and a 200 day simple moving average of $146.53. The stock has a market capitalization of $18.94 billion, a price-to-earnings ratio of 15.16 and a beta of 0.92. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.14 earnings per share. Research analysts forecast that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Axxcess Wealth Management LLC raised its holdings in Genuine Parts by 5.0% during the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after buying an additional 74 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Genuine Parts by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after buying an additional 313,438 shares during the last quarter. Lido Advisors LLC boosted its position in Genuine Parts by 37.9% during the third quarter. Lido Advisors LLC now owns 4,152 shares of the specialty retailer’s stock worth $599,000 after purchasing an additional 1,141 shares during the period. Seven Eight Capital LP boosted its position in shares of Genuine Parts by 252.6% in the third quarter. Seven Eight Capital LP now owns 11,523 shares of the specialty retailer’s stock valued at $1,664,000 after acquiring an additional 8,255 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Genuine Parts by 1.0% in the third quarter. Sei Investments Co. now owns 108,474 shares of the specialty retailer’s stock valued at $15,662,000 after acquiring an additional 1,102 shares during the period. Institutional investors and hedge funds 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.