Genuine Parts (NYSE:GPC) Stock Rating Upgraded by Redburn Atlantic

Redburn Atlantic upgraded shares of Genuine Parts (NYSE:GPC) to a hold rating in a research note released on Monday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. UBS Group cut their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Truist Financial cut their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Performance

NYSE:GPC opened at $123.70 on Monday. The stock’s 50-day moving average is $131.29 and its 200-day moving average is $138.94. The stock has a market cap of $17.20 billion, a P/E ratio of 15.92 and a beta of 0.92. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period in the previous year, the firm posted $2.49 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GPC. First Citizens Bank & Trust Co. lifted its holdings in shares of Genuine Parts by 4.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after buying an additional 75 shares during the period. HBK Sorce Advisory LLC lifted its holdings in Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after acquiring an additional 80 shares during the period. Dover Advisors LLC boosted its position in Genuine Parts by 5.1% in the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after purchasing an additional 85 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after purchasing an additional 85 shares during the period. Finally, Blackhawk Capital Partners LLC. increased its position in shares of Genuine Parts by 1.3% during the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after purchasing an additional 86 shares during the last quarter. 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.