Jefferies Financial Group Raises Genuine Parts (NYSE:GPC) Price Target to $170.00

Genuine Parts (NYSE:GPC) had its target price upped by Jefferies Financial Group from $150.00 to $170.00 in a report released on Friday, Benzinga reports. The brokerage currently has a hold rating on the specialty retailer’s stock.

Other analysts also recently issued reports about the company. Evercore ISI cut their target price on Genuine Parts from $160.00 to $155.00 and set an in-line rating for the company in a research note on Tuesday, April 16th. Truist Financial raised their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a buy rating in a research note on Friday. StockNews.com raised Genuine Parts from a hold rating to a buy rating in a research note on Friday, April 5th. Finally, Wedbush reaffirmed a neutral rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $173.10.

Genuine Parts Stock Up 0.4 %

NYSE GPC opened at $163.09 on Friday. The business has a fifty day moving average price of $150.66 and a 200 day moving average price of $142.49. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The company has a market cap of $22.72 billion, a P/E ratio of 18.18 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the company earned $2.14 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Research analysts anticipate that Genuine Parts will post 9.86 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.45%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts 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 directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

Institutional investors have recently bought and sold shares of the company. WD Rutherford LLC acquired a new position in Genuine Parts in the 1st quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Genuine Parts in the 3rd quarter valued at about $25,000. OFI Invest Asset Management acquired a new position in Genuine Parts in the 3rd quarter valued at about $25,000. Assetmark Inc. grew its position in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares in the last quarter. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Genuine Parts during the third quarter worth about $28,000. 78.83% of the stock is owned by institutional investors and hedge funds.

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.