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

Shares of Genuine Parts (NYSE:GPC) have been assigned an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $137.63.

GPC has been the subject of a number of research reports. Evercore ISI cut their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC bought a new position in Genuine Parts in the fourth quarter worth about $25,000. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts in the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts in the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC purchased a new position in Genuine Parts during the fourth quarter valued at $32,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 1.5 %

Shares of NYSE:GPC opened at $118.93 on Friday. The firm has a fifty day moving average price of $120.99 and a two-hundred day moving average price of $124.83. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 18.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period in the prior year, the company earned $2.26 EPS. Analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.46%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 63.68%.

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.