Genuine Parts (NYSE:GPC) Receives $167.75 Average PT from Brokerages

Genuine Parts (NYSE:GPC) has received an average recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $167.00.

Several analysts have recently issued reports on GPC shares. Evercore ISI lowered their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Truist Financial raised their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Jefferies Financial Group raised their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Wedbush reiterated a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th.

Genuine Parts Stock Performance

NYSE GPC opened at $138.26 on Monday. The business’s 50-day moving average price is $141.97 and its 200 day moving average price is $146.37. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The company has a market capitalization of $19.26 billion, a PE ratio of 15.41 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping 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 analyst estimates of $5.84 billion. During the same period in the prior year, the firm posted $2.14 EPS. The company’s revenue was up .3% on a year-over-year basis. On average, research analysts predict that Genuine Parts will post 9.86 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a dividend of $1.00 per share. The ex-dividend date was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.89%. Genuine Parts’s payout ratio is currently 44.59%.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently bought and sold shares of GPC. First Citizens Bank & Trust Co. grew its position in shares of Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after buying an additional 75 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Genuine Parts by 1.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 114,102 shares of the specialty retailer’s stock worth $15,783,000 after purchasing an additional 1,462 shares during the last quarter. MONECO Advisors LLC raised its stake in shares of Genuine Parts by 7.1% in the 2nd quarter. MONECO Advisors LLC now owns 1,587 shares of the specialty retailer’s stock valued at $220,000 after purchasing an additional 105 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of Genuine Parts by 49.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 120,848 shares of the specialty retailer’s stock worth $16,716,000 after purchasing an additional 40,092 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Genuine Parts by 8.2% in the second quarter. Raymond James & Associates now owns 371,022 shares of the specialty retailer’s stock worth $51,320,000 after purchasing an additional 28,065 shares in the last quarter. 78.83% of the stock is currently 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.