Genuine Parts (NYSE:GPC) Receives $137.63 Average Price Target from Brokerages

Genuine Parts (NYSE:GPC - Get Free Report) has received an average recommendation of "Hold" from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $137.63.

A number of brokerages recently commented on GPC. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Evercore ISI dropped their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th.

Genuine Parts Stock Performance

Shares of GPC traded down $2.83 during mid-day trading on Friday, hitting $117.84. 1,829,124 shares of the company's stock were exchanged, compared to its average volume of 1,148,776. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock's 50-day simple moving average is $121.07 and its 200-day simple moving average is $124.47. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market cap of $16.35 billion, a price-to-earnings ratio of 18.21 and a beta of 0.93.

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

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a $1.03 dividend. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.50%. Genuine Parts's dividend payout ratio is presently 63.68%.

Hedge Funds Weigh In On Genuine Parts

A number of large investors have recently modified their holdings of the company. Prospera Financial Services Inc raised its stake in shares of Genuine Parts by 36.3% during the third quarter. Prospera Financial Services Inc now owns 3,732 shares of the specialty retailer's stock valued at $522,000 after acquiring an additional 993 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Genuine Parts during the 3rd quarter valued at approximately $1,407,000. PNC Financial Services Group Inc. lifted its holdings in Genuine Parts by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 114,379 shares of the specialty retailer's stock worth $15,976,000 after buying an additional 2,021 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of Genuine Parts by 2.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer's stock worth $533,000 after buying an additional 103 shares during the last quarter. Finally, King Luther Capital Management Corp increased its stake in shares of Genuine Parts by 1.3% during the third quarter. King Luther Capital Management Corp now owns 9,808 shares of the specialty retailer's stock valued at $1,370,000 after buying an additional 122 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.