Genuine Parts (NYSE:GPC) Receives $173.10 Average PT from Analysts

Genuine Parts (NYSE:GPC) has been given a consensus rating of “Hold” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $173.10.

Several research analysts have weighed in on GPC shares. Wedbush reiterated a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Evercore ISI dropped their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Jefferies Financial Group upped their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Truist Financial increased their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred 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 transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

Institutional Trading of Genuine Parts

Several institutional investors have recently added to or reduced their stakes in GPC. North Star Investment Management Corp. raised its position in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares during the period. CHICAGO TRUST Co NA increased its position in Genuine Parts by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after buying an additional 71 shares during the period. Axxcess Wealth Management LLC lifted its stake in Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after buying an additional 74 shares during the last quarter. Financial Counselors Inc. boosted its holdings in shares of Genuine Parts by 0.3% during the third quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after acquiring an additional 76 shares during the period. Finally, Balentine LLC grew its position in shares of Genuine Parts by 2.2% during the third quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock worth $513,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $157.41 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock has a market cap of $21.93 billion, a price-to-earnings ratio of 17.55 and a beta of 0.94. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The business has a fifty day moving average of $153.20 and a 200-day moving average of $143.28.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.14 EPS. As a group, analysts predict that Genuine Parts will post 9.94 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 Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. Genuine Parts’s dividend payout ratio (DPR) is 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.