Genuine Parts (NYSE:GPC) Now Covered by Goldman Sachs Group

Goldman Sachs Group assumed coverage on shares of Genuine Parts (NYSE:GPC) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $107.00 price objective on the specialty retailer’s stock.

Several other research analysts have also commented on the company. Zacks Investment Research raised GALP ENERGIA SG/ADR from a sell rating to a hold rating in a research report on Monday, May 27th. Stephens began coverage on Genuine Parts in a research report on Thursday, May 30th. They set an overweight rating and a $114.00 price target on the stock. Evercore ISI began coverage on Polarityte in a research report on Wednesday, March 20th. They set an outperform rating and a $26.00 price target on the stock. Finally, ValuEngine raised Alleghany from a hold rating to a buy rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Genuine Parts currently has an average rating of Hold and a consensus target price of $106.67.

Shares of NYSE GPC opened at $105.41 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.67. Genuine Parts has a fifty-two week low of $91.04 and a fifty-two week high of $115.20. The firm has a market cap of $15.40 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 3.48 and a beta of 0.94. The stock’s 50-day simple moving average is $102.37.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.03). The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.79 billion. Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.27 EPS. On average, sell-side analysts forecast that Genuine Parts will post 5.9 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $0.7625 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $3.05 annualized dividend and a dividend yield of 2.89%. Genuine Parts’s dividend payout ratio (DPR) is currently 53.70%.

In related news, insider Scott Sonnemaker bought 5,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $99.01 per share, for a total transaction of $495,050.00. Following the purchase, the insider now owns 5,000 shares of the company’s stock, valued at approximately $495,050. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Private Trust Co. NA boosted its stake in shares of Genuine Parts by 3.8% in the first quarter. Private Trust Co. NA now owns 2,514 shares of the specialty retailer’s stock valued at $281,000 after buying an additional 93 shares in the last quarter. Conning Inc. boosted its stake in shares of Genuine Parts by 3.5% in the first quarter. Conning Inc. now owns 2,959 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 100 shares in the last quarter. 6 Meridian boosted its stake in shares of Genuine Parts by 2.2% in the second quarter. 6 Meridian now owns 5,013 shares of the specialty retailer’s stock valued at $519,000 after buying an additional 106 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Genuine Parts by 0.9% in the second quarter. First Citizens Bank & Trust Co. now owns 13,630 shares of the specialty retailer’s stock valued at $1,412,000 after buying an additional 125 shares in the last quarter. Finally, Mason Street Advisors LLC raised its holdings in Genuine Parts by 0.6% during the first quarter. Mason Street Advisors LLC now owns 20,821 shares of the specialty retailer’s stock worth $2,333,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 76.32% of the company’s stock.

About Genuine Parts

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Analyst Recommendations for Genuine Parts (NYSE:GPC)

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