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

Genuine Parts (NYSE:GPC) has received an average recommendation of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $167.13.

A number of equities analysts recently commented on the company. Wedbush reissued a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group increased their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Evercore ISI reduced their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday. Finally, UBS Group reduced their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd.

Genuine Parts Stock Down 1.5 %

Genuine Parts stock opened at $138.21 on Monday. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 15.41 and a beta of 0.92. The stock has a fifty day simple moving average of $141.97 and a two-hundred day simple moving average of $146.24. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 earnings per share. Equities analysts predict that Genuine Parts will post 9.87 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.89%. Genuine Parts’s payout ratio is currently 44.59%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

Large investors have recently bought and sold shares of the company. Assetmark Inc. lifted 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 acquiring an additional 96 shares during the last quarter. WD Rutherford LLC purchased a new stake in shares of Genuine Parts during the first quarter worth $26,000. Union Savings Bank increased its position in shares of Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares during the period. Thompson Investment Management Inc. purchased a new position in Genuine Parts in the first quarter valued at $35,000. Finally, Stephens Consulting LLC increased its holdings in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. 78.83% of the stock is currently 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.