Genuine Parts (GPC) – Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Genuine Parts (NYSE: GPC) in the last few weeks:

• 4/19/2024 – Genuine Parts had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $170.00 price target on the stock, up previously from $140.00.
• 4/19/2024 – Genuine Parts had its price target raised by analysts at Jefferies Financial Group Inc. from $150.00 to $170.00. They now have a “hold” rating on the stock.
• 4/19/2024 – Genuine Parts had its price target raised by analysts at Truist Financial Co. from $167.00 to $183.00. They now have a “buy” rating on the stock.
• 4/16/2024 – Genuine Parts had its price target lowered by analysts at Evercore ISI from $160.00 to $155.00. They now have an “in-line” rating on the stock.
• 4/12/2024 – Genuine Parts had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $167.00 price target on the stock.
• 4/5/2024 – Genuine Parts was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/2/2024 – Genuine Parts had its price target raised by analysts at Truist Financial Co. from $157.00 to $167.00. They now have a “buy” rating on the stock.
• 3/26/2024 – Genuine Parts had its price target raised by analysts at Evercore ISI from $155.00 to $160.00. They now have an “in-line” rating on the stock.
• 3/26/2024 – Genuine Parts was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/18/2024 – Genuine Parts was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $156.77 on Thursday. The business’s 50 day moving average price is $152.75 and its 200 day moving average price is $143.09. The firm has a market cap of $21.84 billion, a P/E ratio of 17.48 and a beta of 0.94. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates 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 for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.55%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

Several hedge funds have recently bought and sold shares of the stock. Hunter Associates Investment Management LLC boosted its position in Genuine Parts by 13.8% in the 1st quarter. Hunter Associates Investment Management LLC now owns 13,534 shares of the specialty retailer’s stock worth $2,099,000 after purchasing an additional 1,643 shares in the last quarter. Rockline Wealth Management LLC boosted its position in Genuine Parts by 0.4% in the 1st quarter. Rockline Wealth Management LLC now owns 23,358 shares of the specialty retailer’s stock worth $3,619,000 after purchasing an additional 98 shares in the last quarter. Argent Advisors Inc. boosted its position in Genuine Parts by 38.7% in the 1st quarter. Argent Advisors Inc. now owns 12,150 shares of the specialty retailer’s stock worth $1,882,000 after purchasing an additional 3,390 shares in the last quarter. Pullen Investment Management LLC purchased a new stake in Genuine Parts in the 1st quarter worth approximately $324,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Genuine Parts by 20.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 287,352 shares of the specialty retailer’s stock valued at $44,520,000 after buying an additional 48,516 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.