Genuine Parts (NYSE:GPC) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Genuine Parts (NYSE:GPC) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

GPC has been the subject of several other reports. Wedbush reissued a neutral rating and issued a $140.00 price objective on shares of Genuine Parts in a research note on Friday, February 16th. Truist Financial upped their target price on Genuine Parts from $155.00 to $157.00 and gave the company a buy rating in a report on Friday, February 16th. Finally, Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company an in-line rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of Moderate Buy and an average target price of $167.78.

Genuine Parts Trading Down 0.2 %

Shares of GPC stock opened at $154.93 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 16.61 and a beta of 0.94. The stock has a 50 day simple moving average of $147.60 and a 200-day simple moving average of $141.89. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, beating the consensus estimate of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the prior year, the company earned $2.05 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that Genuine Parts will post 9.77 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.58%. Genuine Parts’s dividend payout ratio is currently 42.87%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank acquired a new stake in Genuine Parts in the 2nd quarter valued at about $190,000. Sunbelt Securities Inc. raised its position in Genuine Parts by 122.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 88 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at about $25,000. OFI Invest Asset Management acquired a new stake in Genuine Parts in the 3rd quarter valued at about $25,000. Finally, First Capital Advisors Group LLC. acquired a new stake in Genuine Parts in the 2nd quarter valued at about $31,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.