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

Shares of Genuine Parts (NYSE:GPC) have earned an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $137.63.

A number of equities research analysts have recently weighed in on GPC shares. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial lifted their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Evercore ISI dropped their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th.

Genuine Parts Stock Down 1.7 %

NYSE GPC opened at $118.49 on Friday. The business’s 50-day moving average is $121.13 and its 200 day moving average is $124.15. The stock has a market capitalization of $16.44 billion, a PE ratio of 18.31 and a beta of 0.93. 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 1 year low of $112.74 and a 1 year high of $164.45.

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

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. 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. Genuine Parts’s payout ratio is currently 63.68%.

Institutional Trading of Genuine Parts

Institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP lifted its stake in shares of Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after buying an additional 4,809 shares in the last quarter. Caprock Group LLC bought a new position in Genuine Parts in the 4th quarter valued at approximately $540,000. Verity & Verity LLC boosted its stake in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after purchasing an additional 9,199 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth $21,840,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Genuine Parts by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after purchasing an additional 56,776 shares during the last quarter. 78.83% of the stock is 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.