Genuine Parts (NYSE:GPC) Given Average Rating of “Hold” by Analysts

Genuine Parts (NYSE:GPC) has earned a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $139.57.

Several research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Finally, UBS Group reduced their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd.

Genuine Parts Price Performance

Genuine Parts stock opened at $115.59 on Thursday. The stock’s 50 day moving average is $124.55 and its 200 day moving average is $134.05. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a market cap of $16.07 billion, a P/E ratio of 14.88 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the prior year, the company posted $2.49 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.46%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Trading of Genuine Parts

Several institutional investors and hedge funds have recently modified their holdings of GPC. Franklin Resources Inc. raised its position in Genuine Parts by 22.8% in the 3rd quarter. Franklin Resources Inc. now owns 221,936 shares of the specialty retailer’s stock valued at $30,947,000 after buying an additional 41,262 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of Genuine Parts by 37.5% in the third quarter. Peapack Gladstone Financial Corp now owns 146,185 shares of the specialty retailer’s stock valued at $20,420,000 after purchasing an additional 39,871 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Genuine Parts by 95.4% during the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after purchasing an additional 191,272 shares in the last quarter. Optimist Retirement Group LLC boosted its holdings in Genuine Parts by 26.8% during the third quarter. Optimist Retirement Group LLC now owns 15,802 shares of the specialty retailer’s stock worth $2,207,000 after purchasing an additional 3,338 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in Genuine Parts by 1,229.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 32,476 shares of the specialty retailer’s stock worth $4,536,000 after purchasing an additional 30,034 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.