Wedbush Analysts Raise Earnings Estimates for Genuine Parts (NYSE:GPC)

Genuine Parts (NYSE:GPC) – Wedbush boosted their Q3 2024 earnings per share (EPS) estimates for Genuine Parts in a report released on Friday, April 19th. Wedbush analyst S. Basham now forecasts that the specialty retailer will earn $2.64 per share for the quarter, up from their previous forecast of $2.63. Wedbush currently has a “Neutral” rating and a $170.00 target price on the stock. The consensus estimate for Genuine Parts’ current full-year earnings is $9.86 per share. Wedbush also issued estimates for Genuine Parts’ FY2024 earnings at $9.88 EPS, Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $2.73 EPS, Q3 2025 earnings at $2.83 EPS, Q4 2025 earnings at $2.65 EPS and FY2026 earnings at $11.33 EPS.

Several other research analysts have also recently issued reports on the company. Evercore ISI cut their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Jefferies Financial Group increased their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Truist Financial upped their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $173.10.

Genuine Parts Trading Up 0.4 %

NYSE:GPC opened at $163.09 on Monday. The stock has a fifty day moving average price of $150.66 and a two-hundred day moving average price of $142.49. The stock has a market capitalization of $22.72 billion, a price-to-earnings ratio of 18.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 earnings per share.

Institutional Trading of Genuine Parts

Large investors have recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in Genuine Parts in the 3rd quarter worth about $25,000. Assetmark Inc. boosted its stake in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the last quarter. WD Rutherford LLC acquired a new stake in Genuine Parts in the 1st quarter worth about $26,000. Briaud Financial Planning Inc acquired a new stake in Genuine Parts in the 3rd quarter worth about $28,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Genuine Parts in the 3rd quarter worth about $28,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.45%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.