Genuine Parts (NYSE:GPC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Genuine Parts (NYSE:GPC) have earned a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $155.14.

A number of analysts recently weighed in on the stock. UBS Group cut their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial restated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, 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 report on Tuesday.

Genuine Parts Stock Performance

Genuine Parts stock opened at $113.02 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a market cap of $15.74 billion, a PE ratio of 12.60 and a beta of 0.90. The company’s 50-day moving average is $139.12 and its two-hundred day moving average is $143.08.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.44 earnings per share. Equities analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.54%. Genuine Parts’s payout ratio is presently 44.59%.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently modified their holdings of GPC. Wellington Management Group LLP boosted its position in shares of Genuine Parts by 726.9% in the fourth quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after acquiring an additional 48,122 shares during the period. Fisher Asset Management LLC boosted its position in shares of Genuine Parts by 4.6% in the fourth quarter. Fisher Asset Management LLC now owns 2,355 shares of the specialty retailer’s stock valued at $326,000 after acquiring an additional 103 shares during the period. RFG Advisory LLC bought a new stake in shares of Genuine Parts in the first quarter valued at about $225,000. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts in the first quarter valued at about $35,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Genuine Parts by 255.5% in the first quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer’s stock valued at $100,000 after acquiring an additional 465 shares during the period. 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.