Analysts Set Genuine Parts (NYSE:GPC) Price Target at $137.63

Genuine Parts (NYSE:GPC) has been given an average recommendation of “Hold” by the ten research firms that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $137.63.

Several analysts recently issued reports on GPC shares. Evercore ISI cut their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Finally, Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Genuine Parts

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts during the third quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in Genuine Parts during the fourth quarter worth about $25,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the third quarter worth about $31,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts during the fourth quarter worth about $28,000. Finally, First Command Advisory Services Inc. acquired a new stake in Genuine Parts during the fourth quarter worth about $28,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $124.00 on Tuesday. The stock has a market cap of $17.21 billion, a PE ratio of 19.17 and a beta of 0.94. The business has a fifty day simple moving average of $119.10 and a 200-day simple moving average of $126.40. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter last year, the firm posted $2.26 earnings per share. On average, sell-side analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.32%. Genuine Parts’s payout ratio is presently 63.68%.

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.