Genuine Parts (NYSE:GPC) Receives “Sell” Rating from The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their sell rating on shares of Genuine Parts (NYSE:GPC) in a research report report published on Tuesday, MarketBeat.com reports. The firm currently has a $114.00 target price on the specialty retailer’s stock, down from their previous target price of $133.00.

Several other equities research analysts have also recently weighed in on GPC. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Finally, Evercore ISI reduced their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $135.00.

Genuine Parts Stock Down 0.5 %

Shares of GPC stock opened at $118.59 on Tuesday. The stock has a market cap of $16.46 billion, a P/E ratio of 18.33 and a beta of 0.93. The company’s fifty day simple moving average is $121.11 and its two-hundred day simple moving average is $123.75. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $2.26 earnings per share. Analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 63.68%.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millstone Evans Group LLC purchased a new stake in Genuine Parts in the fourth quarter worth $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts in the fourth quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in Genuine Parts in the 4th quarter worth about $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts during the 4th quarter valued at about $29,000. Finally, Synergy Asset Management LLC purchased a new stake in Genuine Parts in the 4th quarter valued at about $32,000. 78.83% of the stock is owned by institutional investors.

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.