Genuine Parts (NYSE:GPC) Price Target Raised to $143.00 at Truist Financial

Genuine Parts (NYSE:GPC - Free Report) had its target price upped by Truist Financial from $137.00 to $143.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the specialty retailer's stock.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Evercore ISI reduced their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Genuine Parts presently has a consensus rating of "Hold" and an average price target of $135.29.

Genuine Parts Trading Up 0.3%

NYSE:GPC traded up $0.36 on Wednesday, reaching $133.57. The company's stock had a trading volume of 823,068 shares, compared to its average volume of 1,164,651. The firm has a market cap of $18.58 billion, a PE ratio of 22.99 and a beta of 0.74. The business's 50-day moving average price is $124.96 and its two-hundred day moving average price is $121.12. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $149.22. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.52 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. Genuine Parts's revenue was up 3.4% on a year-over-year basis. Equities research analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were paid a $1.03 dividend. The ex-dividend date was Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.08%. Genuine Parts's payout ratio is 70.91%.

Institutional Investors Weigh In On Genuine Parts

Several institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock valued at $399,449,000 after buying an additional 2,461,497 shares during the last quarter. Norges Bank purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $206,645,000. Junto Capital Management LP purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $94,868,000. Assenagon Asset Management S.A. boosted its holdings in shares of Genuine Parts by 377.3% during the second quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer's stock worth $113,233,000 after purchasing an additional 737,836 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Genuine Parts by 204.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock worth $92,129,000 after purchasing an additional 530,057 shares during the period. Hedge funds and other 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.