Genuine Parts (NYSE:GPC) Stock Gets Price Target Trim from Argus

Genuine Parts (NYSE:GPC) had its price objective cut by Argus from $156.00 to $150.00 in a research note released on Thursday, MarketBeat.com reports. They currently have a buy rating on the specialty retailer’s stock.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. UBS Group boosted their price objective on Genuine Parts from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday. The Goldman Sachs Group set a $122.00 price objective on Genuine Parts in a research note on Tuesday. Raymond James Financial restated a “strong-buy” rating and issued a $165.00 target price on shares of Genuine Parts in a report on Wednesday, July 22nd. Finally, DA Davidson lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and an average target price of $145.00.

Genuine Parts Stock Down 3.8%

Genuine Parts stock opened at $123.14 on Thursday. Genuine Parts has a 1-year low of $90.78 and a 1-year high of $151.57. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 492.56, a price-to-earnings-growth ratio of 2.30 and a beta of 0.67. The firm’s fifty day moving average price is $131.32 and its two-hundred day moving average price is $119.16. The company has a current ratio of 1.22, a quick ratio of 0.50 and a debt-to-equity ratio of 0.96.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03. Genuine Parts had a net margin of 0.12% and a return on equity of 23.00%. The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same period last year, the company earned $1.98 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts predict that Genuine Parts will post 7.62 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were issued a dividend of $1.0625 per share. The ex-dividend date was Friday, September 4th. This represents a $4.25 annualized dividend and a yield of 3.5%. Genuine Parts’s payout ratio is 1,700.00%.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently added to or reduced their stakes in the company. Compass Wealth Management LLC purchased a new stake in Genuine Parts in the 3rd quarter valued at about $25,000. Elevation Wealth Partners LLC lifted its position in shares of Genuine Parts by 510.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer’s stock worth $33,000 after buying an additional 235 shares in the last quarter. EFG International AG purchased a new position in shares of Genuine Parts in the 2nd quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Genuine Parts by 34.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 341 shares of the specialty retailer’s stock worth $42,000 after buying an additional 88 shares during the last quarter. Finally, Clearstead Trust LLC bought a new position in shares of Genuine Parts in the second quarter valued at approximately $48,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Company Profile

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.