Genuine Parts (NYSE:GPC) PT Lowered to $135.00 at JPMorgan Chase & Co.

Genuine Parts (NYSE:GPC) had its target price lowered by JPMorgan Chase & Co. from $162.00 to $135.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the specialty retailer’s stock.

A number of other equities research analysts also recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. Wedbush dropped their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, UBS Group lowered their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Performance

Shares of GPC opened at $113.11 on Tuesday. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The firm has a market cap of $15.76 billion, a price-to-earnings ratio of 12.61 and a beta of 0.90. The business’s 50 day moving average is $137.72 and its two-hundred day moving average is $142.43.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the company earned $2.49 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.54%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Hedge Funds Weigh In On Genuine Parts

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in shares of Genuine Parts by 726.9% during 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 in the last quarter. Fisher Asset Management LLC lifted its position in shares of Genuine Parts by 4.6% in the fourth quarter. Fisher Asset Management LLC now owns 2,355 shares of the specialty retailer’s stock worth $326,000 after buying an additional 103 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of Genuine Parts during the 1st quarter worth about $225,000. Thompson Investment Management Inc. acquired a new stake in Genuine Parts in the 1st quarter valued at approximately $35,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Genuine Parts by 255.5% during the first quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer’s stock worth $100,000 after buying an additional 465 shares during the last quarter. Hedge funds and other institutional investors 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.