Genuine Parts (GPC) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Genuine Parts (NYSE:GPC) from a hold rating to a buy rating in a report published on Friday.

Other research analysts also recently issued research reports about the stock. Wedbush increased their price target on shares of Genuine Parts from $93.00 to $100.00 and gave the company a neutral rating in a report on Friday, July 20th. Royal Bank of Canada increased their price target on shares of Genuine Parts to $99.00 and gave the company a sector perform rating in a report on Thursday, July 12th. Finally, Zacks Investment Research downgraded shares of Genuine Parts from a buy rating to a hold rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $102.80.

Shares of NYSE:GPC traded up $0.52 during trading on Friday, reaching $101.34. The company’s stock had a trading volume of 1,683,599 shares, compared to its average volume of 957,037. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. Genuine Parts has a 12 month low of $84.71 and a 12 month high of $107.75. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 2.68 and a beta of 1.17.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, October 18th. The specialty retailer reported $1.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.48. Genuine Parts had a net margin of 3.99% and a return on equity of 22.54%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter last year, the firm earned $1.16 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities analysts forecast that Genuine Parts will post 5.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 7th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, September 6th. Genuine Parts’s payout ratio is currently 62.07%.

In other Genuine Parts news, insider James R. Neill sold 512 shares of the firm’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $97.94, for a total value of $50,145.28. Following the completion of the sale, the insider now owns 5,661 shares of the company’s stock, valued at $554,438.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in GPC. Bank of America Corp DE lifted its stake in Genuine Parts by 318.5% in the second quarter. Bank of America Corp DE now owns 7,036,209 shares of the specialty retailer’s stock worth $645,853,000 after purchasing an additional 5,354,849 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in Genuine Parts in the second quarter worth about $205,387,000. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Genuine Parts by 23.3% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,533,815 shares of the specialty retailer’s stock worth $324,369,000 after acquiring an additional 667,620 shares during the period. Cornerstone Wealth Management LLC increased its position in shares of Genuine Parts by 9,752.8% during the second quarter. Cornerstone Wealth Management LLC now owns 391,847 shares of the specialty retailer’s stock worth $4,306,000 after acquiring an additional 387,870 shares during the period. Finally, Millennium Management LLC increased its position in shares of Genuine Parts by 1,249.9% during the first quarter. Millennium Management LLC now owns 167,503 shares of the specialty retailer’s stock worth $15,048,000 after acquiring an additional 155,094 shares during the period. 76.67% of the stock is owned by institutional investors and hedge funds.

About Genuine Parts

Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.

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Analyst Recommendations for Genuine Parts (NYSE:GPC)

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