Genuine Parts (NYSE:GPC) Upgraded at Redburn Atlantic

Redburn Atlantic upgraded shares of Genuine Parts (NYSE:GPC) to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other brokerages have also issued reports on GPC. 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. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. UBS Group cut 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, Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Up 0.8 %

GPC stock opened at $123.70 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a 50-day moving average of $131.29 and a two-hundred day moving average of $138.94. The stock has a market capitalization of $17.20 billion, a price-to-earnings ratio of 15.92 and a beta of 0.92. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $2.49 EPS. As a group, equities research analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. CreativeOne Wealth LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at $620,000. Townsquare Capital LLC increased its stake in shares of Genuine Parts by 0.4% during the third quarter. Townsquare Capital LLC now owns 27,881 shares of the specialty retailer’s stock worth $3,894,000 after purchasing an additional 115 shares during the period. Transamerica Financial Advisors Inc. lifted its holdings in shares of Genuine Parts by 12.2% during the third quarter. Transamerica Financial Advisors Inc. now owns 5,666 shares of the specialty retailer’s stock worth $792,000 after buying an additional 616 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Genuine Parts by 72.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 215,644 shares of the specialty retailer’s stock valued at $30,121,000 after purchasing an additional 90,731 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Genuine Parts during the third quarter worth approximately $99,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Company Profile

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.