Genuine Parts Company (NYSE:GPC) – Research analysts at Gabelli boosted their FY2021 EPS estimates for Genuine Parts in a research report issued on Tuesday. Gabelli analyst B. Sponheimer now expects that the specialty retailer will earn $5.90 per share for the year, up from their previous estimate of $5.85. Gabelli has a “Buy” rating and a $101.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on the company. BidaskClub upgraded Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada increased their target price on Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a report on Tuesday. Goldman Sachs Group, Inc. (The) cut Genuine Parts from a “neutral” rating to a “sell” rating and lowered their target price for the company from $104.00 to $89.00 in a report on Thursday, July 6th. Finally, Wedbush restated a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $96.33.

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Shares of Genuine Parts (NYSE GPC) traded up 0.48% during mid-day trading on Thursday, reaching $95.65. The company’s stock had a trading volume of 738,023 shares. The company’s 50 day moving average price is $83.87 and its 200-day moving average price is $89.04. The company has a market capitalization of $14.04 billion, a price-to-earnings ratio of 20.71 and a beta of 1.06. Genuine Parts has a 1-year low of $79.86 and a 1-year high of $101.06.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.02). The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 earnings per share.

A number of hedge funds have recently modified their holdings of GPC. Girard Partners LTD. raised its holdings in shares of Genuine Parts by 5.2% during the second quarter. Girard Partners LTD. now owns 28,068 shares of the specialty retailer’s stock valued at $2,604,000 after buying an additional 1,391 shares during the last quarter. Synovus Financial Corp raised its holdings in Genuine Parts by 10.1% during the second quarter. Synovus Financial Corp now owns 263,927 shares of the specialty retailer’s stock worth $24,485,000 after purchasing an additional 24,129 shares in the last quarter. TLP Group LLC bought a new stake in Genuine Parts during the first quarter worth approximately $379,000. Motco raised its holdings in Genuine Parts by 1.9% during the second quarter. Motco now owns 36,411 shares of the specialty retailer’s stock worth $3,378,000 after purchasing an additional 679 shares in the last quarter. Finally, Nuance Investments LLC raised its holdings in Genuine Parts by 221.3% during the second quarter. Nuance Investments LLC now owns 272,286 shares of the specialty retailer’s stock worth $25,257,000 after purchasing an additional 187,534 shares in the last quarter. Institutional investors own 74.46% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a $0.675 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.70 dividend on an annualized basis and a yield of 2.82%. Genuine Parts’s payout ratio is currently 58.32%.

Genuine Parts declared that its board has initiated a stock buyback plan on Monday, August 21st that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About Genuine Parts

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.

Earnings History and Estimates for Genuine Parts (NYSE:GPC)

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