Genuine Parts (NYSE:GPC) Upgraded by Evercore ISI to “Outperform” Rating

Evercore ISI upgraded shares of Genuine Parts (NYSE:GPC) from an in-line rating to an outperform rating in a report published on Friday, Marketbeat.com reports. They currently have $135.00 price target on the specialty retailer’s stock, up from their prior price target of $128.00.

Other research analysts have also issued research reports about the company. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $135.88.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $116.80 on Friday. The business has a fifty day simple moving average of $121.16 and a two-hundred day simple moving average of $123.54. The firm has a market capitalization of $16.21 billion, a P/E ratio of 18.05 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period last year, the company posted $2.26 EPS. On average, equities analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were paid a $1.03 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.53%. Genuine Parts’s payout ratio is currently 63.68%.

Institutional Inflows and Outflows

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