Genuine Parts (NYSE:GPC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Genuine Parts (NYSE:GPC) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other equities analysts have also issued reports on GPC. Truist Financial increased their price objective on Genuine Parts from $155.00 to $157.00 and gave the stock a buy rating in a report on Friday, February 16th. Evercore ISI increased their price target on Genuine Parts from $155.00 to $160.00 and gave the company an in-line rating in a research note on Tuesday. Finally, Wedbush reaffirmed a neutral rating and set a $140.00 price target on shares of Genuine Parts in a research note on Friday, February 16th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Genuine Parts has a consensus rating of Moderate Buy and an average price target of $167.78.

Genuine Parts Stock Down 0.2 %

Shares of Genuine Parts stock opened at $154.93 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The business’s 50 day simple moving average is $147.60 and its 200-day simple moving average is $141.89. The stock has a market capitalization of $21.60 billion, a price-to-earnings ratio of 16.61 and a beta of 0.94. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the prior year, the firm earned $2.05 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts forecast that Genuine Parts will post 9.77 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, February 29th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. Genuine Parts’s dividend payout ratio (DPR) is currently 42.87%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Genuine Parts

Hedge funds and other institutional investors have recently modified their holdings of the business. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Genuine Parts in the third quarter worth $25,000. OFI Invest Asset Management acquired a new stake in Genuine Parts during the third quarter valued at $25,000. Assetmark Inc. boosted its position in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Genuine Parts by 122.2% during the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. Finally, Briaud Financial Planning Inc acquired a new stake in Genuine Parts during the third quarter valued at $28,000. Institutional investors and hedge funds 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.