Evercore ISI Increases Genuine Parts (NYSE:GPC) Price Target to $128.00

Genuine Parts (NYSE:GPC - Free Report) had its target price increased by Evercore ISI from $125.00 to $128.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an in-line rating on the specialty retailer's stock.

A number of other research analysts have also issued reports on the stock. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 target price for the company. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday. Finally, Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $135.88.

Genuine Parts Stock Performance

Shares of NYSE GPC traded down $1.88 during trading on Tuesday, reaching $116.80. The stock had a trading volume of 1,750,365 shares, compared to its average volume of 1,224,334. The stock has a market cap of $16.21 billion, a PE ratio of 18.05 and a beta of 0.93. The firm's 50 day moving average price is $121.16 and its two-hundred day moving average price is $123.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

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Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the business posted $2.26 EPS. On average, research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.53%. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio is presently 63.68%.

Hedge Funds Weigh In On Genuine Parts

Several institutional investors and hedge funds have recently modified their holdings of GPC. Millstone Evans Group LLC acquired a new position in Genuine Parts in the 4th quarter worth about $25,000. Kestra Investment Management LLC bought a new position in Genuine Parts during the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts in the fourth quarter worth approximately $29,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth $32,000. 78.83% of the stock is currently owned by hedge funds and other 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.