Genuine Parts (NYSE:GPC) Price Target Cut to $164.00

Genuine Parts (NYSE:GPC) had its price objective lowered by Truist Financial from $183.00 to $164.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.

A number of other equities research analysts have also commented on GPC. Wedbush restated a neutral rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. StockNews.com cut Genuine Parts from a buy rating to a hold rating in a research note on Tuesday, July 16th. Evercore ISI lowered their target price on 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. UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a neutral rating for the company in a research note on Wednesday, July 3rd. Finally, Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a hold rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $161.14.

Genuine Parts Stock Up 3.0 %

NYSE GPC opened at $142.07 on Tuesday. The firm has a market cap of $19.79 billion, a PE ratio of 15.84 and a beta of 0.92. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The stock’s 50 day simple moving average is $140.29 and its 200 day simple moving average is $146.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. As a group, sell-side analysts forecast that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.82%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its holdings in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares in the last quarter. WD Rutherford LLC bought a new position in Genuine Parts during the first quarter worth about $26,000. Union Savings Bank lifted its holdings in Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new position in Genuine Parts during the first quarter worth about $35,000. Finally, Stephens Consulting LLC lifted its holdings in Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares in 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.