Genuine Parts (NYSE:GPC) Price Target Cut to $125.00 by Analysts at UBS Group

Genuine Parts (NYSE:GPC) had its price target trimmed by UBS Group from $145.00 to $125.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. 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 report on Wednesday, July 24th. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Finally, Wedbush reduced their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Performance

Shares of GPC opened at $114.24 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.54. The firm’s 50 day moving average is $137.22 and its 200-day moving average is $142.12. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The stock has a market capitalization of $15.92 billion, a P/E ratio of 14.70 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.49 EPS. Equities research analysts anticipate that Genuine Parts will post 8.1 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is presently 51.48%.

Institutional Investors Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its holdings in shares of Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after acquiring an additional 18,657 shares in the last quarter. Mezzasalma Advisors LLC raised its stake in shares of Genuine Parts by 497.0% during the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock worth $1,865,000 after purchasing an additional 10,019 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Genuine Parts by 137.9% during the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after buying an additional 13,330 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Genuine Parts in the 1st quarter valued at approximately $3,083,000. Finally, Wellington Management Group LLP grew its stake in shares of Genuine Parts by 726.9% in the 4th quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after buying an additional 48,122 shares in the last quarter. Hedge funds and other 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.