Genuine Parts (NYSE:GPC) Price Target Increased to $160.00 by Analysts at Evercore ISI

Genuine Parts (NYSE:GPC) had its target price upped by Evercore ISI from $155.00 to $160.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an in-line rating on the specialty retailer’s stock.

Several other analysts have also issued reports on GPC. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group lowered their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial reissued a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $157.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Wedbush cut their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $139.57.

Genuine Parts Trading Down 2.7 %

NYSE:GPC opened at $113.11 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 business’s 50-day simple moving average is $137.72 and its 200-day simple moving average is $142.43. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a market capitalization of $15.76 billion, a PE ratio of 12.61 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 EPS. Sell-side analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.54%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. WD Rutherford LLC acquired a new position in shares of Genuine Parts in the first quarter valued at about $26,000. Stephens Consulting LLC raised its position in shares of Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts in the first quarter valued at approximately $35,000. Concord Wealth Partners increased its stake in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the period. Finally, Manchester Capital Management LLC grew its holdings in shares of Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. 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.