Genuine Parts (NYSE:GPC) Reaches New 12-Month Low - Time to Sell?

Shares of Genuine Parts (NYSE:GPC - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $108.96 and last traded at $109.59, with a volume of 124346 shares traded. The stock had previously closed at $116.81.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GPC. Evercore ISI raised shares of Genuine Parts from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $128.00 to $135.00 in a research note on Friday, April 4th. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective on the stock. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Truist Financial lifted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. One research 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $135.88.

Genuine Parts Trading Up 1.6 %

The company's fifty day moving average price is $120.28 and its 200-day moving average price is $122.22. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 17.79 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

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

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were issued a dividend of $1.03 per share. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.58%. Genuine Parts's payout ratio is 63.68%.

Hedge Funds Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Butensky & Cohen Financial Security Inc. grew its position in Genuine Parts by 3.1% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 36,394 shares of the specialty retailer's stock worth $4,336,000 after purchasing an additional 1,099 shares during the period. Ullmann Wealth Partners Group LLC boosted its stake in shares of Genuine Parts by 5.2% in the first quarter. Ullmann Wealth Partners Group LLC now owns 3,056 shares of the specialty retailer's stock worth $364,000 after buying an additional 150 shares during the last quarter. Oak Asset Management LLC grew its holdings in Genuine Parts by 13.8% during the first quarter. Oak Asset Management LLC now owns 13,377 shares of the specialty retailer's stock worth $1,594,000 after acquiring an additional 1,625 shares during the period. Cypress Wealth Services LLC raised its position in Genuine Parts by 12.3% during the first quarter. Cypress Wealth Services LLC now owns 2,814 shares of the specialty retailer's stock valued at $335,000 after acquiring an additional 308 shares in the last quarter. Finally, Veracity Capital LLC lifted its holdings in Genuine Parts by 4.9% in the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

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.