Genuine Parts (NYSE:GPC) Research Coverage Started at Loop Capital

Loop Capital initiated coverage on shares of Genuine Parts (NYSE:GPC) in a research note released on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $155.00 target price on the specialty retailer’s stock.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. UBS Group cut their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Wedbush decreased their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $141.50.

Genuine Parts Stock Down 0.8 %

Shares of NYSE GPC opened at $118.43 on Thursday. The stock has a fifty day moving average price of $120.69 and a 200 day moving average price of $130.39. The company has a market cap of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. 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 announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the company posted $2.49 earnings per share. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genuine Parts

Hedge funds have recently made changes to their positions in the company. Metis Global Partners LLC raised its holdings in shares of Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after purchasing an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC lifted its stake in shares of Genuine Parts by 2.7% in the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after buying an additional 91 shares during the last quarter. Marco Investment Management LLC boosted its holdings in shares of Genuine Parts by 1.2% during the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after buying an additional 91 shares during the period. First Citizens Bank & Trust Co. grew its stake in Genuine Parts by 5.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock valued at $239,000 after buying an additional 95 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in Genuine Parts by 2.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after buying an additional 103 shares during the last quarter. Hedge funds and other 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.