Genuine Parts (NYSE:GPC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Genuine Parts (NYSE:GPC) have been assigned an average recommendation of “Hold” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $173.10.

Several research firms have issued reports on GPC. Truist Financial boosted their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Evercore ISI decreased 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. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Finally, Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th.

Insider Transactions at Genuine Parts

In other 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 transaction of $503,490.00. Following the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

Hedge funds have recently made changes to their positions in the company. WD Rutherford LLC acquired a new position in shares of Genuine Parts in the 1st quarter valued at $26,000. OFI Invest Asset Management acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $25,000. Assetmark Inc. boosted its holdings in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares during the last quarter. Milestone Investment Advisors LLC purchased a new stake in Genuine Parts in the third quarter valued at $28,000. Finally, Briaud Financial Planning Inc purchased a new stake in Genuine Parts in the third quarter valued at $28,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 2.6 %

Genuine Parts stock opened at $157.21 on Wednesday. The stock has a market cap of $21.90 billion, a PE ratio of 17.53 and a beta of 0.94. 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 one year low of $126.35 and a one year high of $174.91. The stock has a fifty day moving average of $152.49 and a 200 day moving average of $143.02.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. Genuine Parts’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. Genuine Parts’s payout ratio is presently 44.59%.

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.