StockNews.com Lowers Genuine Parts (NYSE:GPC) to Hold

StockNews.com lowered shares of Genuine Parts (NYSE:GPCFree Report) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other analysts have also recently weighed in on the company. UBS Group dropped their price target on Genuine Parts from $165.00 to $150.00 and set a neutral rating for the company in a report on Wednesday, July 3rd. Evercore ISI lowered their price target on shares of Genuine Parts from $150.00 to $148.00 and set an in-line rating on the stock in a research report on Wednesday, July 24th. Wedbush dropped their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. Truist Financial restated a buy rating and set a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $166.00 to $162.00 and set a neutral rating for the company in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts has an average rating of Hold and a consensus target price of $161.14.

Get Our Latest Stock Analysis on Genuine Parts

Genuine Parts Stock Down 1.2 %

GPC opened at $135.04 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $139.44 and its 200 day simple moving average is $144.11. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The stock has a market cap of $18.81 billion, a PE ratio of 15.05 and a beta of 0.90.

Genuine Parts (NYSE:GPCGet Free Report) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is presently 44.59%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GPC. Wulff Hansen & CO. increased its position in Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after purchasing an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Genuine Parts by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after buying an additional 239,858 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after acquiring an additional 223,712 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Genuine Parts by 0.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 545,249 shares of the specialty retailer’s stock valued at $75,517,000 after acquiring an additional 4,436 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Genuine Parts by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock worth $75,326,000 after acquiring an additional 13,753 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Genuine Parts (NYSE:GPC)

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