Genuine Parts (NYSE:GPC) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Genuine Parts (NYSE:GPCFree Report) from a hold rating to a buy rating in a report issued on Tuesday morning.

GPC has been the topic of a number of other reports. Evercore ISI boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an in-line rating in a report on Tuesday. Truist Financial boosted their price objective on shares of Genuine Parts from $155.00 to $157.00 and gave the company a buy rating in a report on Friday, February 16th. Finally, Wedbush reissued a neutral rating and set a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $167.78.

View Our Latest Stock Analysis on Genuine Parts

Genuine Parts Price Performance

NYSE GPC opened at $152.53 on Tuesday. The firm’s fifty day simple moving average is $146.95 and its two-hundred day simple moving average is $141.70. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. 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 $21.27 billion, a P/E ratio of 16.35 and a beta of 0.94.

Genuine Parts (NYSE:GPCGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.06. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts forecast that Genuine Parts will post 9.77 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.62%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, February 29th. Genuine Parts’s dividend payout ratio is presently 42.87%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Genuine Parts by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock valued at $2,401,000 after buying an additional 1,180 shares in the last quarter. Cibc World Market Inc. lifted its stake in Genuine Parts by 14.8% in the 1st quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after buying an additional 354 shares in the last quarter. Sei Investments Co. lifted its stake in Genuine Parts by 9.4% in the 1st quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after buying an additional 4,372 shares in the last quarter. Aviva PLC lifted its stake in Genuine Parts by 63.1% in the 1st quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock valued at $9,949,000 after buying an additional 30,545 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Genuine Parts by 195.1% in the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock valued at $14,408,000 after buying an additional 75,591 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Genuine Parts (NYSE:GPC)

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