Brokerages Set Genuine Parts (GPC) Target Price at $102.75
Genuine Parts (NYSE:GPC) has been given an average rating of “Hold” by the eight analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and five have assigned a hold 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 $102.75.
A number of equities analysts recently issued reports on GPC shares. ValuEngine raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Zacks Investment Research lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Bank of America lowered Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a report on Tuesday, October 30th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPC. Ffcm LLC boosted its holdings in Genuine Parts by 43.4% in the 3rd quarter. Ffcm LLC now owns 14,322 shares of the specialty retailer’s stock valued at $108,000 after purchasing an additional 4,332 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Genuine Parts in the 2nd quarter valued at approximately $110,000. Steward Partners Investment Advisory LLC boosted its holdings in Genuine Parts by 87.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,613 shares of the specialty retailer’s stock valued at $148,000 after purchasing an additional 754 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Genuine Parts in the 2nd quarter valued at approximately $158,000. Finally, Resources Management Corp CT ADV purchased a new stake in Genuine Parts in the 3rd quarter valued at approximately $159,000. 75.11% of the stock is currently owned by hedge funds and other institutional investors.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, October 18th. The specialty retailer reported $1.48 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.48. Genuine Parts had a return on equity of 22.54% and a net margin of 3.99%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter last year, the company posted $1.16 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts forecast that Genuine Parts will post 5.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 7th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, December 6th. Genuine Parts’s dividend payout ratio is currently 62.07%.
About Genuine Parts
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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