Genuine Parts (NYSE:GPC) Given New $160.00 Price Target at Evercore ISI

Genuine Parts (NYSE:GPC) had its price objective reduced by Evercore ISI from $165.00 to $160.00 in a research note released on Tuesday, Benzinga reports. They currently have an in-line rating on the specialty retailer’s stock.

A number of other brokerages also recently commented on GPC. Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a hold rating in a research note on Friday, April 19th. Wedbush restated a neutral rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Truist Financial boosted their target price on Genuine Parts from $167.00 to $183.00 and gave the company a buy rating in a research note on Friday, April 19th. Finally, StockNews.com raised Genuine Parts from a hold rating to a buy rating in a research report on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $167.75.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $133.38 on Tuesday. The business’s 50-day moving average price is $146.30 and its two-hundred day moving average price is $146.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. Genuine Parts has a one year low of $126.35 and a one year high of $170.57. The company has a market capitalization of $18.58 billion, a P/E ratio of 14.87 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its earnings results 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 firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. Analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a $1.00 dividend. The ex-dividend date was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.00%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

Several large investors have recently made changes to their positions in GPC. Assetmark Inc. lifted its position in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. WD Rutherford LLC acquired a new position in shares of Genuine Parts during the 1st quarter worth about $26,000. Union Savings Bank lifted its position in shares of Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. acquired a new position in shares of Genuine Parts during the 1st quarter worth about $35,000. Finally, Stephens Consulting LLC lifted its position in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.