Brokerages Set Genuine Parts Company (NYSE:GPC) Target Price at $148.00

Shares of Genuine Parts Company (NYSE:GPC) have earned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $148.00.

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a report on Tuesday, December 23rd. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and raised their target price for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. Truist Financial lifted their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Evercore ISI upped their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, UBS Group lifted their price objective on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th.

Genuine Parts Trading Up 0.5%

Shares of NYSE:GPC opened at $126.09 on Monday. The stock’s 50-day simple moving average is $128.25 and its two-hundred day simple moving average is $130.85. The stock has a market capitalization of $17.54 billion, a price-to-earnings ratio of 21.70 and a beta of 0.74. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $143.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. Genuine Parts’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $4.12 annualized dividend and a yield of 3.3%. Genuine Parts’s payout ratio is currently 70.91%.

Institutional Trading of Genuine Parts

Several institutional investors and hedge funds have recently modified their holdings of GPC. Inspire Investing LLC raised its position in shares of Genuine Parts by 11.9% in the 1st quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock valued at $1,995,000 after purchasing an additional 1,777 shares during the last quarter. Revisor Wealth Management LLC increased its stake in Genuine Parts by 75.2% during the 2nd quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock valued at $853,000 after purchasing an additional 2,910 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Genuine Parts by 276.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after buying an additional 2,461,497 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts during the second quarter worth $3,516,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Genuine Parts by 16.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,089 shares of the specialty retailer’s stock valued at $3,165,000 after buying an additional 3,659 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.