Zacks Research Equities Analysts Raise Earnings Estimates for Genuine Parts (NYSE:GPC)

Genuine Parts (NYSE:GPC) – Equities research analysts at Zacks Research upped their Q2 2024 earnings per share (EPS) estimates for shares of Genuine Parts in a report released on Thursday, May 2nd. Zacks Research analyst R. Department now expects that the specialty retailer will post earnings of $2.59 per share for the quarter, up from their prior forecast of $2.57. The consensus estimate for Genuine Parts’ current full-year earnings is $9.94 per share. Zacks Research also issued estimates for Genuine Parts’ Q3 2024 earnings at $2.67 EPS, Q1 2025 earnings at $2.42 EPS, Q3 2025 earnings at $2.77 EPS and Q1 2026 earnings at $2.58 EPS.

Other analysts have also issued reports about the company. 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. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Truist Financial increased their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $173.10.

Genuine Parts Price Performance

Genuine Parts stock opened at $157.41 on Monday. The business’s 50 day simple moving average is $153.39 and its 200 day simple moving average is $143.24. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 17.55 and a beta of 0.94. 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 announced 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. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm posted $2.14 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s payout ratio is 44.59%.

Insider Activity

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. WD Rutherford LLC purchased a new stake in Genuine Parts during the first quarter valued at about $26,000. OFI Invest Asset Management bought a new position in shares of Genuine Parts during the 3rd quarter valued at about $25,000. Assetmark Inc. raised its holdings in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares in the last quarter. Milestone Investment Advisors LLC bought a new stake in Genuine Parts in the 3rd quarter worth approximately $28,000. Finally, Briaud Financial Planning Inc purchased a new stake in Genuine Parts in the third quarter worth approximately $28,000. 78.83% of the stock is currently owned by 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.