Genuine Parts (NYSE:GPC) PT Lowered to $155.00 at Evercore ISI

Genuine Parts (NYSE:GPC) had its price objective decreased by Evercore ISI from $160.00 to $155.00 in a research note published on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the specialty retailer’s stock.

Several other equities research analysts have also issued reports on GPC. Wedbush reaffirmed a neutral rating and set a $140.00 target price on shares of Genuine Parts in a research report on Friday, February 16th. StockNews.com raised Genuine Parts from a hold rating to a buy rating in a research report on Friday, April 5th. Finally, Truist Financial reaffirmed a buy rating and set a $167.00 target price on shares of Genuine Parts in a research report on Friday, April 12th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts presently has an average rating of Hold and a consensus price target of $173.10.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $162.39 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $150.30 and its two-hundred day simple moving average is $142.34. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The stock has a market cap of $22.64 billion, a PE ratio of 17.41 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the business earned $2.14 EPS. The business’s revenue was up .3% on a year-over-year basis. As a group, analysts forecast that Genuine Parts will post 9.66 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.00 dividend. The ex-dividend date was Thursday, February 29th. This represents a $4.00 annualized dividend and a yield of 2.46%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is 42.87%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GPC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Genuine Parts by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock worth $2,401,000 after purchasing an additional 1,180 shares during the period. Cibc World Market Inc. boosted its position in shares of Genuine Parts by 14.8% during the 1st quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after acquiring an additional 354 shares during the last quarter. Sei Investments Co. boosted its position in shares of Genuine Parts by 9.4% during the 1st quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after acquiring an additional 4,372 shares during the last quarter. Aviva PLC boosted its position in shares of Genuine Parts by 63.1% during the 1st quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock valued at $9,949,000 after acquiring an additional 30,545 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Genuine Parts by 195.1% during the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock valued at $14,408,000 after acquiring an additional 75,591 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

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.