Wedbush Equities Analysts Raise Earnings Estimates for Genuine Parts (NYSE:GPC)

Genuine Parts (NYSE:GPC - Free Report) - Investment analysts at Wedbush raised their Q3 2024 earnings per share (EPS) estimates for shares of Genuine Parts in a report issued on Friday, April 19th. Wedbush analyst S. Basham now expects that the specialty retailer will post earnings of $2.64 per share for the quarter, up from their prior forecast of $2.63. Wedbush currently has a "Neutral" rating and a $170.00 target price on the stock. The consensus estimate for Genuine Parts' current full-year earnings is $9.86 per share. Wedbush also issued estimates for Genuine Parts' FY2024 earnings at $9.88 EPS, Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $2.73 EPS, Q3 2025 earnings at $2.83 EPS, Q4 2025 earnings at $2.65 EPS and FY2026 earnings at $11.33 EPS.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $2.14 EPS.

Several other analysts also recently commented on GPC. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an "in-line" rating for the company in a research note on Tuesday, April 16th. Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the company a "hold" rating in a report on Friday. StockNews.com raised Genuine Parts from a "hold" rating to a "buy" rating in a report on Friday, April 5th. Finally, Truist Financial upped their target price on Genuine Parts from $167.00 to $183.00 and gave the company a "buy" rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $173.10.

Genuine Parts Stock Up 0.4 %

Shares of Genuine Parts stock traded up $0.70 on Monday, hitting $163.09. The company had a trading volume of 1,443,166 shares, compared to its average volume of 1,063,021. The stock has a market capitalization of $22.72 billion, a price-to-earnings ratio of 18.18 and a beta of 0.94. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The stock has a 50 day moving average of $150.66 and a 200-day moving average of $142.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $1.00 dividend. This is a positive change from Genuine Parts's previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts's dividend payout ratio (DPR) is presently 44.59%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company's stock, valued at $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.37% of the company's stock.

Institutional Investors Weigh In On Genuine Parts

Institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank raised its position in Genuine Parts by 10.7% during the third quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer's stock valued at $6,026,000 after purchasing an additional 4,047 shares in the last quarter. Conning Inc. raised its position in Genuine Parts by 5.9% during the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer's stock valued at $31,501,000 after purchasing an additional 12,634 shares in the last quarter. Hunter Associates Investment Management LLC grew its stake in shares of Genuine Parts by 20.7% during the fourth quarter. Hunter Associates Investment Management LLC now owns 11,891 shares of the specialty retailer's stock valued at $1,646,000 after buying an additional 2,041 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of Genuine Parts during the third quarter valued at about $1,593,000. Finally, LPL Financial LLC grew its stake in shares of Genuine Parts by 15.1% during the third quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer's stock valued at $20,427,000 after buying an additional 18,522 shares during the last quarter. 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.