Genuine Parts (NYSE:GPC) Earns “Buy” Rating from Truist Financial

Truist Financial reiterated their buy rating on shares of Genuine Parts (NYSE:GPC) in a research report sent to investors on Wednesday, Benzinga reports. Truist Financial currently has a $164.00 price objective on the specialty retailer’s stock.

Several other analysts have also issued reports on GPC. Evercore ISI dropped their target price on Genuine Parts from $150.00 to $148.00 and set an in-line rating on the stock in a report on Wednesday, July 24th. Wedbush dropped their price objective on Genuine Parts from $170.00 to $145.00 and set a neutral rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $166.00 to $162.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. UBS Group dropped their price target on shares of Genuine Parts from $165.00 to $150.00 and set a neutral rating on the stock in a research report on Wednesday, July 3rd. Finally, StockNews.com downgraded shares of Genuine Parts from a buy rating to a hold rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $161.14.

Genuine Parts Price Performance

Shares of GPC opened at $143.25 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The stock has a market capitalization of $19.95 billion, a P/E ratio of 15.97 and a beta of 0.92. The company has a 50 day moving average of $139.05 and a 200-day moving average of $146.22.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the business posted $2.44 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Genuine Parts will post 9.36 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, September 6th. Genuine Parts’s payout ratio is presently 44.59%.

Institutional Trading of Genuine Parts

Several hedge funds and other institutional investors have recently modified their holdings of GPC. NBC Securities Inc. boosted its holdings in shares of Genuine Parts by 27.1% during the fourth quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock worth $433,000 after acquiring an additional 668 shares during the period. ICW Investment Advisors LLC grew its holdings in Genuine Parts by 2.8% in the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after buying an additional 221 shares in the last quarter. BNP Paribas Financial Markets increased its position in Genuine Parts by 22.0% during the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock worth $20,515,000 after buying an additional 26,710 shares during the period. Stifel Financial Corp lifted its holdings in shares of Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after buying an additional 431,623 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Genuine Parts by 19.6% in the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after acquiring an additional 18,657 shares during the period. Institutional investors own 78.83% of the company’s stock.

About Genuine Parts

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.