Genuine Parts (NYSE:GPC) Given Consensus Recommendation of “Hold” by Brokerages

Genuine Parts (NYSE:GPC) has been given an average rating of “Hold” by the eight research firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $139.57.

Several equities research analysts have recently issued reports on GPC shares. The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s 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 $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

A number of large investors have recently added to or reduced their stakes in the company. West Oak Capital LLC raised its stake in shares of Genuine Parts by 29,004.0% during the fourth quarter. West Oak Capital LLC now owns 29,395 shares of the specialty retailer’s stock worth $3,432,000 after acquiring an additional 29,294 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Genuine Parts by 131.5% during the 4th quarter. Bruce G. Allen Investments LLC now owns 618 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 351 shares during the last quarter. HBW Advisory Services LLC raised its position in Genuine Parts by 7.5% in the 4th quarter. HBW Advisory Services LLC now owns 16,796 shares of the specialty retailer’s stock worth $1,951,000 after purchasing an additional 1,165 shares during the period. ST Germain D J Co. Inc. raised its position in Genuine Parts by 320.0% in the 4th quarter. ST Germain D J Co. Inc. now owns 525 shares of the specialty retailer’s stock worth $61,000 after purchasing an additional 400 shares during the period. Finally, CWA Asset Management Group LLC lifted its stake in Genuine Parts by 40.5% in the fourth quarter. CWA Asset Management Group LLC now owns 2,206 shares of the specialty retailer’s stock worth $258,000 after purchasing an additional 636 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC opened at $115.99 on Monday. The stock has a 50 day moving average of $120.89 and a 200 day moving average of $131.29. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 14.93 and a beta of 0.95. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.49 earnings per share. As a group, sell-side analysts forecast that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.45%. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.