Genuine Parts (NYSE:GPC) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Genuine Parts (NYSE:GPC) from an in-line rating to an outperform rating in a research report report published on Friday, Marketbeat.com reports. The brokerage currently has $135.00 target price on the specialty retailer’s stock, up from their prior target price of $128.00.

Other analysts have also recently issued research reports about the stock. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average price target of $135.88.

Genuine Parts Stock Performance

Shares of GPC stock opened at $116.80 on Friday. The firm has a 50 day moving average of $121.16 and a two-hundred day moving average of $123.34. The stock has a market capitalization of $16.21 billion, a PE ratio of 18.05 and a beta of 0.82. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the business posted $2.26 earnings per share. On average, research analysts predict 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. Stockholders of record on Friday, March 7th were issued a $1.03 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GPC. Strategic Wealth Partners Ltd. grew its position in shares of Genuine Parts by 4.2% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer’s stock worth $302,000 after acquiring an additional 98 shares during the last quarter. Hartford Financial Management Inc. grew its position in Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after purchasing an additional 99 shares during the last quarter. New York Life Investment Management LLC increased its stake in Genuine Parts by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock valued at $2,188,000 after purchasing an additional 108 shares during the period. Grimes & Company Inc. raised its holdings in shares of Genuine Parts by 3.3% in the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock valued at $408,000 after buying an additional 111 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in shares of Genuine Parts by 2.5% during the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer’s stock worth $541,000 after buying an additional 115 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.