Brokerages Set Genuine Parts (NYSE:GPC) Target Price at $161.14

Genuine Parts (NYSE:GPC) has earned a consensus rating of “Hold” from the seven analysts that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $161.14.

A number of research firms recently commented on GPC. Evercore ISI dropped their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. Wedbush cut their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday.

Genuine Parts Stock Up 1.7 %

NYSE GPC opened at $136.61 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The company’s 50 day simple moving average is $139.20 and its 200 day simple moving average is $146.06. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The company has a market capitalization of $19.03 billion, a P/E ratio of 15.23 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its 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). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.93%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Institutional Trading of Genuine Parts

Several large investors have recently added to or reduced their stakes in GPC. Assetmark Inc. grew its position in Genuine Parts by 109.1% in 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 stake in Genuine Parts in the first quarter worth approximately $26,000. Union Savings Bank grew its position in Genuine Parts by 100.0% in 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 stake in Genuine Parts in the first quarter worth approximately $35,000. Finally, Stephens Consulting LLC grew its position in Genuine Parts by 740.7% in 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 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.