Genuine Parts Company (NYSE:GPC) Stock Rated “Moderate Buy” by Sell-Side Analysts

Genuine Parts Company (NYSE:GPC) has received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $145.00.

A number of analysts recently issued reports on the stock. Argus lowered their price target on shares of Genuine Parts from $156.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. The Goldman Sachs Group set a $122.00 target price on Genuine Parts in a research report on Tuesday. DA Davidson upped their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Truist Financial increased their target price on Genuine Parts from $126.00 to $131.00 and gave the company a “hold” rating in a report on Tuesday.

Genuine Parts Price Performance

Shares of GPC stock opened at $123.14 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.50 and a current ratio of 1.22. Genuine Parts has a fifty-two week low of $90.78 and a fifty-two week high of $151.57. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 492.56, a PEG ratio of 2.30 and a beta of 0.67. The stock’s 50-day simple moving average is $131.32 and its 200-day simple moving average is $119.16.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.03. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter in the previous year, the business earned $1.98 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Genuine Parts will post 7.62 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 4th were issued a $1.0625 dividend. The ex-dividend date was Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a yield of 3.5%. Genuine Parts’s dividend payout ratio is presently 1,700.00%.

Hedge Funds Weigh In On Genuine Parts

Institutional investors have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC purchased a new stake in Genuine Parts in the third quarter valued at $25,000. Elevation Wealth Partners LLC increased its position in shares of Genuine Parts by 510.9% during the second quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer’s stock valued at $33,000 after acquiring an additional 235 shares during the last quarter. EFG International AG acquired a new position in shares of Genuine Parts in the 2nd quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd increased its holdings in Genuine Parts by 34.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 341 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 88 shares during the last quarter. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Genuine Parts in the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.