Genuine Parts (NYSE:GPC) Receives Consensus Recommendation of “Hold” from Analysts

Genuine Parts (NYSE:GPC) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $139.57.

GPC has been the subject of several research analyst reports. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI upped their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group decreased their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Wedbush dropped their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd.

Genuine Parts Stock Performance

GPC opened at $122.69 on Friday. The business has a fifty day simple moving average of $129.70 and a 200-day simple moving average of $137.60. The firm has a market cap of $17.06 billion, a PE ratio of 15.79 and a beta of 0.92. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the business posted $2.49 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, December 6th. Genuine Parts’s payout ratio is presently 51.48%.

Hedge Funds Weigh In On Genuine Parts

Several hedge funds have recently bought and sold shares of GPC. Miramar Capital LLC increased its holdings in shares of Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after acquiring an additional 7,845 shares during the last quarter. Conning Inc. raised its position in shares of Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after purchasing an additional 19,795 shares during the period. WD Rutherford LLC lifted its stake in shares of Genuine Parts by 4,265.9% in the third quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after buying an additional 7,252 shares during the last quarter. Comerica Bank boosted its holdings in shares of Genuine Parts by 19.6% during the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after buying an additional 18,657 shares during the period. Finally, Hamlin Capital Management LLC grew its stake in Genuine Parts by 12.3% in the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock valued at $82,561,000 after buying an additional 64,520 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

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.