Genuine Parts (NYSE:GPC) Price Target Increased to $183.00 by Analysts at Truist Financial

Genuine Parts (NYSE:GPC) had its target price increased by Truist Financial from $167.00 to $183.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

A number of other equities analysts have also weighed in on the company. Evercore ISI lowered their target price on Genuine Parts from $160.00 to $155.00 and set an in-line rating on the stock in a research report on Tuesday, April 16th. Wedbush reaffirmed a neutral rating and set a $140.00 target price on shares of Genuine Parts in a research report on Friday, February 16th. Finally, StockNews.com raised Genuine Parts from a hold rating to a buy rating in a research report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $173.10.

Genuine Parts Price Performance

Shares of GPC opened at $163.09 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91. The business’s 50 day moving average price is $150.66 and its two-hundred day moving average price is $142.49. The firm has a market cap of $22.72 billion, a PE ratio of 18.18 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the firm earned $2.14 earnings per share. Genuine Parts’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that Genuine Parts will post 9.86 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is 44.59%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. grew its stake in shares of Genuine Parts by 31.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 112,640 shares of the specialty retailer’s stock worth $17,451,000 after acquiring an additional 26,950 shares during the period. Crescent Sterling Ltd. bought a new position in shares of Genuine Parts during the 1st quarter worth $322,000. Confluence Wealth Services Inc. bought a new position in shares of Genuine Parts during the 1st quarter worth $212,000. Byrne Asset Management LLC bought a new position in shares of Genuine Parts during the 1st quarter worth $768,000. Finally, Kessler Investment Group LLC grew its stake in shares of Genuine Parts by 66.3% during the 1st quarter. Kessler Investment Group LLC now owns 3,050 shares of the specialty retailer’s stock worth $473,000 after acquiring an additional 1,216 shares during the period. Institutional investors own 78.83% of the company’s stock.

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.