Genuine Parts (NYSE:GPC – Free Report) The price target was lowered by UBS Group from USD 165.00 to USD 150.00 in a research note published on Wednesday, Benzinga reports. The brokerage house currently rates the specialist retailer’s stock as “neutral”.
GPC has been the subject of several other reports. Jefferies Financial Group raised their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a hold rating in a research report on Friday, April 19th. Truist Financial increased their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a buy rating in a report on Friday, April 19th. Wedbush reiterated a neutral rating and issued a $170.00 price target (previously $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Evercore ISI lowered their price target on shares of Genuine Parts from $165.00 to $160.00 and issued an in-line rating on the stock in a research note on Tuesday. Finally, StockNews.com raised their hold rating on shares of Genuine Parts to a buy rating in a research note on Friday, May 24. Six research analysts have rated the stock with a hold rating and three have given a buy rating. Based on data from MarketBeat.com, the stock currently has an average hold rating and an average price target of $167.75.
Get our latest stock analysis on genuine parts
Original parts trade – 1.8% down
NYSE GPC opened at $133.50 on Wednesday. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $170.57. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock has a market cap of $18.60 billion, a P/E ratio of 14.88 and a beta of 0.92. The company has a 50-day average price of $146.85 and a 200-day average price of $146.44.
Genuine Parts (NYSE:GPC – Get Free Report) released its latest earnings results on Thursday, April 18. The specialty retailer reported earnings per share (EPS) of $2.22 for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion for the quarter, compared to analyst expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s quarterly revenue increased 0.3% compared to the year-ago quarter. During the same period last year, the company reported earnings per share of $2.14. Equities analysts expect Genuine Parts to report earnings per share of $9.92 for the current year.
Dividend announcement for original parts
The company also recently declared a quarterly dividend, which was paid on Monday, July 1. Shareholders of record on Friday, June 7th were paid a dividend of $1.00. This represents a dividend of $4.00 on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.
Insider activity
In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction on Tuesday, May 21. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction 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
Hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. increased its position in shares of Genuine Parts by 27.1% in the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer worth $433,000 after purchasing an additional 668 shares in the last quarter. ICW Investment Advisors LLC increased its position in Genuine Parts by 2.8% in the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer worth $1,120,000 after purchasing an additional 221 shares in the last quarter. BNP Paribas Financial Markets increased its position in Genuine Parts by 22.0% in the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer worth $20,515,000 after purchasing an additional 26,710 shares in the last quarter. Stifel Financial Corp increased its position in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after acquiring an additional 431,623 shares in the last quarter. Finally, Conning Inc. increased its position in Genuine Parts by 5.9% in the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock worth $31,501,000 after acquiring an additional 12,634 shares in the last quarter. 78.83% of the shares are held by institutional investors and hedge funds.
Genuine Parts Company Profile
(Get free report)
Genuine Parts Company distributes replacement automotive parts and industrial parts and materials. The company operates in two segments: Automotive Parts Group and Industrial Parts Group. The company distributes replacement automotive parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, agricultural vehicles, small engines, farm equipment, marine equipment and heavy-duty equipment, as well as equipment and parts used by repair shops, service stations, fleet operators, auto and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms and individuals.
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