Genuine Parts (NYSE:GPC) PT Raised to $165.00

Genuine Parts (NYSE:GPCFree Report) had its price target hoisted by Evercore ISI from $160.00 to $165.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an in-line rating on the specialty retailer’s stock.

Other equities research analysts have also recently issued reports about the stock. Truist Financial upped their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a buy rating in a report on Friday, April 19th. Wedbush reaffirmed a neutral rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Jefferies Financial Group upped their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a hold rating in a research report on Friday, April 19th. Finally, StockNews.com raised shares of Genuine Parts from a hold rating to a buy rating in a research report on Friday, May 24th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $172.44.

View Our Latest Research Report on Genuine Parts

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $141.43 on Thursday. The company’s fifty day moving average is $149.77 and its two-hundred day moving average is $146.46. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $170.57. The company has a market cap of $19.70 billion, a P/E ratio of 15.77 and a beta of 0.92.

Genuine Parts (NYSE:GPCGet Free Report) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the previous year, the company posted $2.14 EPS. Genuine Parts’s revenue was up .3% on a year-over-year basis. Equities analysts expect that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.83%. Genuine Parts’s payout ratio is currently 44.59%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. boosted its holdings in shares of Genuine Parts by 27.1% during the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock worth $433,000 after buying an additional 668 shares during the period. ICW Investment Advisors LLC boosted its holdings in Genuine Parts by 2.8% in the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after purchasing an additional 221 shares during the period. BNP Paribas Financial Markets boosted its holdings in Genuine Parts by 22.0% in the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after purchasing an additional 26,710 shares during the period. Stifel Financial Corp boosted its holdings in Genuine Parts by 27.0% in the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares during the period. Finally, Conning Inc. boosted its holdings in Genuine Parts by 5.9% in the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after purchasing an additional 12,634 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Genuine Parts (NYSE:GPC)

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