Genuine Parts (NYSE:GPC) PT Lowered to $138.00 at The Goldman Sachs Group

Genuine Parts (NYSE:GPC) had its target price trimmed by The Goldman Sachs Group from $162.00 to $138.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

Other equities analysts have also issued research reports about the company. Truist Financial restated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. JPMorgan Chase & Co. cut their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, UBS Group lowered their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Up 2.8 %

Shares of GPC opened at $116.24 on Wednesday. The firm has a market capitalization of $16.19 billion, a price-to-earnings ratio of 12.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a 50-day moving average of $138.23 and a 200 day moving average of $142.63.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.49 EPS. On average, research analysts expect that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Friday, September 6th. Genuine Parts’s payout ratio is presently 44.59%.

Institutional Trading of Genuine Parts

A number of institutional investors have recently made changes to their positions in GPC. Wellington Management Group LLP raised its stake in Genuine Parts by 726.9% in the fourth quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after buying an additional 48,122 shares during the last quarter. RFG Advisory LLC purchased a new position in shares of Genuine Parts in the 1st quarter valued at approximately $225,000. Sunbelt Securities Inc. boosted its stake in Genuine Parts by 255.5% in the 1st quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer’s stock worth $100,000 after purchasing an additional 465 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in Genuine Parts by 11.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,418 shares of the specialty retailer’s stock worth $2,079,000 after purchasing an additional 1,426 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Genuine Parts by 5.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 48,019 shares of the specialty retailer’s stock valued at $7,440,000 after purchasing an additional 2,548 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

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.