Genuine Parts (NYSE:GPC) Given Consensus Recommendation of “Hold” by Analysts

Shares of Genuine Parts (NYSE:GPC) have received a consensus rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $139.57.

GPC has been the subject of a number of recent research reports. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group reduced their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th.

Genuine Parts Trading Up 1.7 %

Shares of GPC stock opened at $124.80 on Friday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a market cap of $17.35 billion, a P/E ratio of 16.06 and a beta of 0.92. The business has a fifty day simple moving average of $129.44 and a 200-day simple moving average of $137.26. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the prior year, the business earned $2.49 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.21%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GPC. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the 3rd quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the third quarter valued at $31,000. Concord Wealth Partners raised its position in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of Genuine Parts during the second quarter worth $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts during the third quarter worth $44,000. 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.