Genuine Parts (NYSE:GPC) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Genuine Parts (NYSE:GPC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $130.86.

A number of analysts recently weighed in on GPC shares. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. 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 report on Tuesday, April 1st. Finally, Evercore ISI dropped their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd.

Genuine Parts Trading Down 0.6%

GPC stock traded down $0.80 during midday trading on Thursday, hitting $125.36. The stock had a trading volume of 664,087 shares, compared to its average volume of 1,287,920. The company's 50-day moving average price is $119.55 and its 200 day moving average price is $120.33. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm has a market cap of $17.40 billion, a PE ratio of 19.38 and a beta of 0.76. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. On average, equities research analysts predict 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 will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.29%. Genuine Parts's payout ratio is 67.65%.

Institutional Trading of Genuine Parts

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised 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 worth $399,449,000 after buying an additional 2,461,497 shares during the last quarter. Norges Bank bought a new stake in shares of Genuine Parts during the 4th quarter valued at $206,645,000. Junto Capital Management LP acquired a new position in shares of Genuine Parts during the 4th quarter worth about $94,868,000. Equity Investment Corp acquired a new position in Genuine Parts during the fourth quarter valued at approximately $84,128,000. Finally, Alyeska Investment Group L.P. lifted its holdings in 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 acquiring an additional 530,057 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

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.