Genuine Parts Company (NYSE:GPC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Genuine Parts Company (NYSE:GPC) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $148.00.

Several research firms recently commented on GPC. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. Evercore ISI upped their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Truist Financial lifted their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and boosted their price target for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. Finally, UBS Group raised their price objective on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th.

Institutional Investors Weigh In On Genuine Parts

Institutional investors and hedge funds have recently bought and sold shares of the business. Olistico Wealth LLC bought a new position in shares of Genuine Parts during the 4th quarter worth about $25,000. Community Bank N.A. acquired a new position in Genuine Parts in the third quarter worth about $27,000. Peoples Financial Services CORP. bought a new position in Genuine Parts during the third quarter worth about $29,000. Lodestone Wealth Management LLC bought a new position in Genuine Parts during the fourth quarter worth about $32,000. Finally, Golden State Wealth Management LLC boosted its holdings in Genuine Parts by 8,833.3% during the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 265 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC opened at $131.98 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock’s 50 day moving average price is $128.15 and its two-hundred day moving average price is $131.64. The firm has a market capitalization of $18.36 billion, a P/E ratio of 22.72 and a beta of 0.75. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $143.48.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.04). The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 earnings per share. On average, equities analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, December 5th. Genuine Parts’s dividend payout ratio is presently 70.91%.

Genuine Parts Company Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.