Genuine Parts (NYSE:GPC) Receives Neutral Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Genuine Parts (NYSE:GPC) in a research note published on Friday morning, Benzinga reports. The firm currently has a $170.00 price objective on the specialty retailer’s stock, up from their prior price objective of $140.00. Wedbush also issued estimates for Genuine Parts’ Q3 2024 earnings at $2.64 EPS, FY2024 earnings at $9.88 EPS, Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $2.73 EPS, Q3 2025 earnings at $2.83 EPS, Q4 2025 earnings at $2.65 EPS and FY2026 earnings at $11.33 EPS.

Several other equities research analysts have also recently issued reports on the stock. Evercore ISI reduced their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an in-line rating on the stock in a research report on Tuesday, April 16th. Truist Financial boosted their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a buy rating in a research report on Friday. Finally, StockNews.com upgraded shares of Genuine Parts from a hold rating to a buy rating in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $173.10.

Genuine Parts Stock Up 0.4 %

Shares of NYSE GPC opened at $163.09 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The firm has a market capitalization of $22.72 billion, a PE ratio of 18.18 and a beta of 0.94. The firm has a fifty day simple moving average of $150.66 and a two-hundred day simple moving average of $142.49.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. Genuine Parts’s revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $2.14 EPS. Equities analysts expect that Genuine Parts will post 9.86 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.00 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 annualized dividend and a yield of 2.45%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by company insiders.

Institutional Trading of Genuine Parts

Large investors have recently made changes to their positions in the stock. WD Rutherford LLC purchased a new position in Genuine Parts during the first quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Genuine Parts during the third quarter worth about $25,000. OFI Invest Asset Management purchased a new position in Genuine Parts during the third quarter worth about $25,000. Assetmark Inc. lifted its position in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the period. Finally, Milestone Investment Advisors LLC purchased a new position in Genuine Parts during the third quarter worth about $28,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

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.