Genuine Parts Company (NYSE:GPC) Stock Has Average Price Target of $145.00

Genuine Parts Company (NYSE:GPC) has been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $145.00.

Several equities research analysts have issued reports on GPC shares. Evercore reissued an “outperform” rating on shares of Genuine Parts in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, September 21st. DA Davidson lifted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. The Goldman Sachs Group set a $122.00 price target on shares of Genuine Parts in a research note on Tuesday, October 20th. Finally, JPMorgan Chase & Co. boosted their price target on Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 12th.

Institutional Investors Weigh In On Genuine Parts

Hedge funds have recently made changes to their positions in the company. Focus Financial Network Inc. grew its position in shares of Genuine Parts by 2.9% in the third quarter. Focus Financial Network Inc. now owns 2,725 shares of the specialty retailer’s stock valued at $346,000 after purchasing an additional 77 shares during the last quarter. North Dakota State Investment Board lifted its holdings in Genuine Parts by 2.0% during the 3rd quarter. North Dakota State Investment Board now owns 4,208 shares of the specialty retailer’s stock worth $529,000 after purchasing an additional 83 shares during the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC lifted its holdings in Genuine Parts by 4.9% during the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 1,799 shares of the specialty retailer’s stock worth $226,000 after purchasing an additional 84 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its holdings in Genuine Parts by 13.8% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 727 shares of the specialty retailer’s stock worth $86,000 after purchasing an additional 88 shares during the last quarter. Finally, C2C Wealth Management LLC boosted its stake in Genuine Parts by 3.8% in the 3rd quarter. C2C Wealth Management LLC now owns 2,750 shares of the specialty retailer’s stock valued at $346,000 after purchasing an additional 100 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 0.3%

GPC stock traded up $0.41 during midday trading on Thursday, reaching $123.25. The company’s stock had a trading volume of 732,207 shares, compared to its average volume of 1,083,958. 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 $16.99 billion, a price-to-earnings ratio of 493.02, a PEG ratio of 2.69 and a beta of 0.65. The stock has a fifty day simple moving average of $127.63 and a two-hundred day simple moving average of $119.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.54 and a current ratio of 1.22.

Genuine Parts (NYSE:GPC) last issued its earnings results 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. The firm had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.49 billion. Genuine Parts had a net margin of 0.12% and a return on equity of 23.00%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 earnings per share. On average, equities research analysts predict that Genuine Parts will post 7.60 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Friday, December 4th will be issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, December 4th. Genuine Parts’s dividend payout ratio (DPR) is presently 1,700.00%.

Genuine Parts Company Profile

Genuine Parts Company is a distributor of automotive replacement parts and industrial products. Founded in 1928 and headquartered in Atlanta, Georgia, the company serves businesses and consumers through its distribution networks and brands. Its automotive business distributes replacement parts, accessories and related products, including through the NAPA Auto Parts brand. Its industrial business, operating primarily as Motion, supplies products such as bearings, power-transmission components, fluid-power equipment and other maintenance and repair items to industrial customers.