Genuine Parts (NYSE:GPC) Upgraded at StockNews.com

StockNews.com upgraded shares of Genuine Parts (NYSE:GPC) from a hold rating to a buy rating in a report released on Friday morning.

GPC has been the topic of several other reports. Evercore ISI raised Genuine Parts from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $128.00 to $135.00 in a research report on Friday, April 4th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Truist Financial raised their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.00.

Genuine Parts Stock Performance

NYSE GPC opened at $114.02 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $15.82 billion, a PE ratio of 17.62 and a beta of 0.82. The business’s 50-day moving average price is $119.81 and its 200 day moving average price is $121.22. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $163.86.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the firm posted $2.26 EPS. On average, research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.61%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Hedge Funds Weigh In On Genuine Parts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPC. Millstone Evans Group LLC acquired a new position in shares of Genuine Parts in the 4th quarter valued at approximately $25,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts in the fourth quarter valued at $28,000. First Command Advisory Services Inc. bought a new position in Genuine Parts during the 4th quarter valued at $28,000. Compass Planning Associates Inc acquired a new position in Genuine Parts during the 4th quarter worth $29,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the 4th quarter valued at about $32,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

About Genuine Parts

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.