JPMorgan Chase & Co. Boosts Genuine Parts (NYSE:GPC) Price Target to $162.00

Genuine Parts (NYSE:GPC) had its target price hoisted by JPMorgan Chase & Co. from $157.00 to $162.00 in a research report report published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty retailer’s stock.

GPC has been the topic of several other reports. The Goldman Sachs Group cut their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday. Wedbush dropped 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. Evercore ISI decreased their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts has an average rating of “Hold” and an average target price of $157.29.

Genuine Parts Stock Down 0.3 %

GPC stock opened at $143.21 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $138.97 and a 200 day moving average of $143.26. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The firm has a market cap of $19.95 billion, a PE ratio of 15.97 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. On average, research analysts forecast that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.79%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Institutional Trading of Genuine Parts

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC increased its holdings in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares in the last quarter. 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 valued at $138,000 after purchasing an additional 70 shares during the period. CHICAGO TRUST Co NA lifted its stake in shares of Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after buying an additional 71 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after buying an additional 75 shares during the period. Finally, HBK Sorce Advisory LLC increased its stake in Genuine Parts by 1.8% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.