Genuine Parts (NYSE:GPC) Receives $137.63 Consensus Price Target from Brokerages

Shares of Genuine Parts (NYSE:GPC) have earned a consensus rating of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $137.63.

GPC has been the topic of a number of recent research reports. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Truist Financial boosted their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th.

Genuine Parts Stock Down 1.7 %

GPC stock opened at $118.49 on Friday. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 18.31 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The business’s 50-day moving average is $121.13 and its two-hundred day moving average is $124.15. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the business posted $2.26 earnings per share. As a group, analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio is 63.68%.

Institutional Inflows and Outflows

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

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.