Genuine Parts (NYSE:GPC) Receives Consensus Rating of “Moderate Buy” from Analysts

Genuine Parts (NYSE:GPC) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $130.86.

Several research firms have weighed in on GPC. Evercore ISI lowered their target price on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, Truist Financial boosted their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th.

Genuine Parts Trading Down 1.1%

GPC opened at $126.32 on Thursday. The stock has a market capitalization of $17.53 billion, a PE ratio of 19.52 and a beta of 0.76. The firm’s fifty day moving average price is $119.41 and its 200 day moving average price is $120.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $149.22.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. As a group, research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.26%. Genuine Parts’s dividend payout ratio is currently 67.65%.

Hedge Funds Weigh In On Genuine Parts

Institutional investors have recently modified their holdings of the company. Rossby Financial LCC bought a new position in shares of Genuine Parts during the first quarter worth about $25,000. Millstone Evans Group LLC bought a new position in Genuine Parts in the 4th quarter valued at about $25,000. Olde Wealth Management LLC bought a new position in Genuine Parts in the 1st quarter valued at about $27,000. Kestra Investment Management LLC bought a new position in Genuine Parts in the 4th quarter valued at about $28,000. Finally, North Capital Inc. bought a new position in Genuine Parts in the 1st quarter valued at about $28,000. Institutional investors own 78.83% of the company’s stock.

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.