Genuine Parts (NYSE:GPC) Given New $128.00 Price Target at Evercore ISI

Genuine Parts (NYSE:GPC) had its price objective raised by Evercore ISI from $125.00 to $128.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an in-line rating on the specialty retailer’s stock.

Other equities research analysts have also issued research reports about the stock. Truist Financial upped 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. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday. Finally, Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $135.00.

Genuine Parts Price Performance

GPC stock opened at $118.59 on Tuesday. The company’s 50-day moving average is $121.11 and its 200-day moving average is $123.75. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The stock has a market capitalization of $16.46 billion, a PE ratio of 18.33 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last released 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. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. Equities research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

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

Institutional Investors Weigh In On Genuine Parts

Hedge funds have recently made changes to their positions in the business. Millstone Evans Group LLC purchased a new stake in Genuine Parts during the fourth quarter worth about $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Genuine Parts during the 4th quarter worth approximately $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts in the 4th quarter worth approximately $29,000. Finally, Synergy Asset Management LLC purchased a new position in Genuine Parts in the fourth quarter valued at approximately $32,000. 78.83% of the stock is currently 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.