Truist Financial upgraded shares of Genuine Parts (NYSE:GPC – Get Rating) from a hold rating to a buy rating in a research report released on Friday, MarketBeat.com reports. The brokerage currently has $186.00 price objective on the specialty retailer's stock.
A number of other equities analysts have also commented on GPC. StockNews.com started coverage on Genuine Parts in a research note on Thursday, March 16th. They issued a buy rating on the stock. Wedbush reaffirmed a neutral rating on shares of Genuine Parts in a research report on Friday, February 24th. Finally, The Goldman Sachs Group increased their price objective on Genuine Parts from $147.00 to $157.00 and gave the company a sell rating in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Genuine Parts has a consensus rating of Hold and a consensus price target of $152.20.
Get Genuine Parts alerts:Genuine Parts Stock Up 1.4 %
GPC opened at $159.03 on Friday. Genuine Parts has a twelve month low of $124.85 and a twelve month high of $187.73. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.15. The business has a 50 day moving average price of $168.91 and a 200 day moving average price of $169.80. The firm has a market cap of $22.39 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.75 and a beta of 0.90.
Genuine Parts (NYSE:GPC – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.15. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. The business had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same period in the previous year, the company earned $1.79 earnings per share. Genuine Parts's revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts forecast that Genuine Parts will post 8.93 EPS for the current year.
Genuine Parts Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 3rd will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, March 2nd. This is a positive change from Genuine Parts's previous quarterly dividend of $0.90. Genuine Parts's dividend payout ratio (DPR) is presently 45.73%.
Institutional Investors Weigh In On Genuine Parts
Several institutional investors and hedge funds have recently bought and sold shares of the business. CVA Family Office LLC boosted its stake in Genuine Parts by 5.8% in the 3rd quarter. CVA Family Office LLC now owns 1,007 shares of the specialty retailer's stock valued at $150,000 after buying an additional 55 shares in the last quarter. Quent Capital LLC grew its stake in Genuine Parts by 20.7% during the third quarter. Quent Capital LLC now owns 344 shares of the specialty retailer's stock worth $51,000 after buying an additional 59 shares during the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of Genuine Parts by 0.4% during the fourth quarter. Bahl & Gaynor Inc. now owns 13,652 shares of the specialty retailer's stock worth $2,369,000 after buying an additional 59 shares in the last quarter. Forum Financial Management LP raised its stake in shares of Genuine Parts by 2.5% in the third quarter. Forum Financial Management LP now owns 2,453 shares of the specialty retailer's stock valued at $366,000 after acquiring an additional 60 shares during the last quarter. Finally, Buckingham Strategic Wealth LLC grew its position in Genuine Parts by 0.7% during the 3rd quarter. Buckingham Strategic Wealth LLC now owns 8,091 shares of the specialty retailer's stock worth $1,208,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 78.14% of the company's stock.
Genuine Parts Company Profile
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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.
Further Reading
- Get a free copy of the StockNews.com research report on Genuine Parts (GPC)
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