Genuine Parts (NYSE:GPC) PT Lowered to $155.00 at Evercore ISI

Genuine Parts (NYSE:GPC) had its price target reduced by Evercore ISI from $160.00 to $155.00 in a research report released on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the specialty retailer’s stock.

A number of other equities analysts also recently weighed in on the stock. Truist Financial restated a buy rating and set a $167.00 target price on shares of Genuine Parts in a report on Friday, April 12th. StockNews.com upgraded shares of Genuine Parts from a hold rating to a buy rating in a report on Friday, April 5th. Finally, Wedbush restated a neutral rating and set a $140.00 target price on shares of Genuine Parts in a report on Friday, February 16th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $173.10.

Genuine Parts Price Performance

NYSE GPC opened at $162.39 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The company has a market capitalization of $22.64 billion, a PE ratio of 17.41 and a beta of 0.94. The firm’s 50 day moving average is $150.30 and its 200-day moving average is $142.34.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period last year, the company earned $2.14 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. Equities research analysts anticipate that Genuine Parts will post 9.66 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $1.00 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s payout ratio is currently 42.87%.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

Institutional investors have recently modified their holdings of the business. Amalgamated Bank boosted its position in shares of Genuine Parts by 10.7% in the third quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after acquiring an additional 4,047 shares during the period. Conning Inc. boosted its position in shares of Genuine Parts by 5.9% in the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after acquiring an additional 12,634 shares during the period. Teza Capital Management LLC bought a new stake in shares of Genuine Parts in the third quarter valued at about $1,593,000. LPL Financial LLC lifted its position in Genuine Parts by 15.1% during the third quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock worth $20,427,000 after purchasing an additional 18,522 shares during the period. Finally, Schwartz Investment Counsel Inc. lifted its position in Genuine Parts by 26.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock worth $33,309,000 after purchasing an additional 50,000 shares during the period. 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.