Genuine Parts Company (GPC) Given New $96.00 Price Target at Royal Bank of Canada
Genuine Parts Company (NYSE:GPC) had its price target raised by Royal Bank of Canada from $94.00 to $96.00 in a research report report published on Thursday. The firm currently has a sector perform rating on the specialty retailer’s stock.
Other equities research analysts also recently issued reports about the company. Jefferies Group LLC reissued a hold rating and issued a $95.00 price objective on shares of Genuine Parts Company in a report on Tuesday. Zacks Investment Research raised Genuine Parts Company from a sell rating to a hold rating in a report on Tuesday, April 11th. Goldman Sachs Group Inc raised Genuine Parts Company from a sell rating to a neutral rating and increased their price objective for the company from $95.00 to $105.00 in a report on Thursday, January 19th. Finally, Wedbush reissued a neutral rating on shares of Genuine Parts Company in a report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $102.44.
Shares of Genuine Parts Company (NYSE:GPC) traded up 0.31% on Thursday, reaching $93.19. 473,992 shares of the company’s stock traded hands. The firm’s 50 day moving average is $92.40 and its 200 day moving average is $95.25. Genuine Parts Company has a 52 week low of $86.61 and a 52 week high of $105.97. The firm has a market capitalization of $13.83 billion, a P/E ratio of 20.30 and a beta of 0.93.
Genuine Parts Company (NYSE:GPC) last announced its quarterly earnings results on Wednesday, April 19th. The specialty retailer reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.03. The firm earned $3.91 billion during the quarter, compared to the consensus estimate of $3.85 billion. Genuine Parts Company had a return on equity of 21.43% and a net margin of 4.57%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. Analysts expect that Genuine Parts Company will post $4.76 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 10th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 2.91%. This is a positive change from Genuine Parts Company’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, March 8th. Genuine Parts Company’s dividend payout ratio (DPR) is presently 56.68%.
A number of hedge funds have recently modified their holdings of GPC. Monarch Capital Management Inc. raised its stake in shares of Genuine Parts Company by 1.0% in the first quarter. Monarch Capital Management Inc. now owns 21,081 shares of the specialty retailer’s stock worth $1,948,000 after buying an additional 200 shares during the last quarter. Cape Cod Five Cents Savings Bank acquired a new stake in shares of Genuine Parts Company during the first quarter worth about $728,000. State of Alaska Department of Revenue acquired a new stake in shares of Genuine Parts Company during the first quarter worth about $208,000. City Holding Co. raised its stake in shares of Genuine Parts Company by 2.4% in the first quarter. City Holding Co. now owns 14,484 shares of the specialty retailer’s stock worth $1,338,000 after buying an additional 340 shares during the last quarter. Finally, Oakbrook Investments LLC raised its stake in shares of Genuine Parts Company by 85.1% in the first quarter. Oakbrook Investments LLC now owns 14,250 shares of the specialty retailer’s stock worth $1,317,000 after buying an additional 6,550 shares during the last quarter. 71.75% of the stock is currently owned by hedge funds and other institutional investors.
Genuine Parts Company Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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