Genuine Parts (NYSE:GPC) Receives Consensus Recommendation of “Hold” from Analysts

Genuine Parts (NYSE:GPC) has received an average recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $139.57.

A number of equities analysts have recently issued reports on GPC shares. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial dropped their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd.

Institutional Trading of Genuine Parts

Several hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts in the third quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts in the 3rd quarter valued at about $31,000. Concord Wealth Partners boosted its stake in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Genuine Parts in the second quarter worth approximately $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts in the third quarter worth approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $122.62 on Friday. The stock has a 50-day moving average price of $130.79 and a two-hundred day moving average price of $138.44. 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 $17.05 billion, a PE ratio of 15.78 and a beta of 0.92. 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 (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 earnings per share. Analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

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

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.