Genuine Parts (NYSE:GPC) Receives Average Rating of "Hold" from Analysts

Shares of Genuine Parts (NYSE:GPC - Get Free Report) have earned a consensus recommendation of "Hold" from the eight research firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $139.57.

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Finally, Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genuine Parts

Several large investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the third quarter worth approximately $31,000. Concord Wealth Partners raised its holdings in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after acquiring an additional 119 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Genuine Parts in the 3rd quarter worth approximately $44,000. Finally, Armstrong Advisory Group Inc. grew its position in Genuine Parts by 63.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 141 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

GPC stock traded up $0.54 during midday trading on Monday, reaching $117.40. The company had a trading volume of 1,076,741 shares, compared to its average volume of 1,112,014. The firm has a market capitalization of $16.32 billion, a PE ratio of 15.11 and a beta of 0.95. The stock has a 50 day moving average price of $120.86 and a 200 day moving average price of $131.67. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts's payout ratio is currently 51.48%.

About Genuine Parts

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.