Genuine Parts (NYSE:GPC) Given Consensus Recommendation of "Hold" by Brokerages

Genuine Parts (NYSE:GPC - Get Free Report) has been assigned a consensus rating of "Hold" from the seven ratings firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $139.57.

GPC has been the subject of several research reports. StockNews.com downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday. UBS Group dropped their price objective on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group dropped their price objective on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research report on Wednesday.

Genuine Parts Price Performance

Genuine Parts stock traded up $3.12 during midday trading on Wednesday, reaching $116.24. The company's stock had a trading volume of 2,767,736 shares, compared to its average volume of 996,082. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The stock's 50 day simple moving average is $138.64 and its 200 day simple moving average is $142.82. The firm has a market capitalization of $16.19 billion, a PE ratio of 12.93 and a beta of 0.90.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts's revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $2.49 EPS. On average, equities research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts's dividend payout ratio (DPR) is 44.59%.

Institutional Trading of Genuine Parts

Institutional investors have recently modified their holdings of the company. Comerica Bank grew its holdings in shares of Genuine Parts by 19.6% during the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer's stock worth $17,609,000 after purchasing an additional 18,657 shares during the period. Mezzasalma Advisors LLC lifted its position in Genuine Parts by 497.0% during the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer's stock worth $1,865,000 after acquiring an additional 10,019 shares in the last quarter. Acadian Asset Management LLC lifted its position in Genuine Parts by 137.9% during the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer's stock worth $3,560,000 after acquiring an additional 13,330 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Genuine Parts during the 1st quarter worth approximately $3,083,000. Finally, Wellington Management Group LLP lifted its position in Genuine Parts by 726.9% during the 4th quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer's stock worth $7,582,000 after acquiring an additional 48,122 shares in 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.