Shares of Genuine Parts (NYSE:GPC) have received a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $99.40.
Several equities research analysts recently weighed in on GPC shares. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Royal Bank of Canada increased their target price on shares of Genuine Parts to $99.00 and gave the company a “sector perform” rating in a research note on Thursday, July 12th. Finally, Wedbush increased their target price on shares of Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, July 20th.
Shares of NYSE:GPC traded up $0.66 during midday trading on Friday, hitting $100.85. The company’s stock had a trading volume of 27,882 shares, compared to its average volume of 474,136. The company has a market cap of $14.65 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.65 and a beta of 1.18. Genuine Parts has a fifty-two week low of $83.53 and a fifty-two week high of $107.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.71 and a current ratio of 1.33.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 19th. The specialty retailer reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.01. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.69 billion. Genuine Parts had a return on equity of 21.62% and a net margin of 3.78%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. equities analysts predict that Genuine Parts will post 5.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, September 6th. Genuine Parts’s payout ratio is presently 62.07%.
In related news, insider James R. Neill sold 512 shares of the 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 in the company, valued at $554,438.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in Genuine Parts by 318.5% during 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 period. JPMorgan Chase & Co. lifted its stake in Genuine Parts by 0.5% during the first quarter. JPMorgan Chase & Co. now owns 6,993,996 shares of the specialty retailer’s stock worth $628,341,000 after purchasing an additional 38,039 shares during the period. Wells Fargo & Company MN lifted its stake in Genuine Parts by 1.3% during the first quarter. Wells Fargo & Company MN now owns 3,707,945 shares of the specialty retailer’s stock worth $333,122,000 after purchasing an additional 48,871 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in 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 purchasing an additional 667,620 shares during the period. Finally, Charles Schwab Investment Advisory Inc. bought a new position in Genuine Parts during the second quarter worth about $205,387,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.
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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