Genuine Parts (NYSE:GPC) Receives Average Recommendation of “Hold” from Brokerages

Genuine Parts (NYSE:GPC) has received an average recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $172.44.

Several equities analysts have recently weighed in on GPC shares. Jefferies Financial Group lifted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Wedbush restated a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Truist Financial lifted their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Finally, Evercore ISI lifted their target price on Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a report on Thursday, June 20th.

Genuine Parts Trading Up 0.5 %

Shares of GPC stock opened at $142.07 on Thursday. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The firm has a market cap of $19.79 billion, a P/E ratio of 15.84 and a beta of 0.92. The company has a 50 day moving average of $149.72 and a 200-day moving average of $146.51. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $170.57.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period last year, the business posted $2.14 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genuine Parts

A number of hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC lifted its stake in Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of Genuine Parts by 8.5% in the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after buying an additional 70 shares during the period. CHICAGO TRUST Co NA lifted its stake in shares of Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after acquiring an additional 71 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after acquiring an additional 74 shares during the period. Finally, Checchi Capital Advisers LLC grew its position in Genuine Parts by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after acquiring an additional 76 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

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.