Genuine Parts (NYSE:GPC) Earns Buy Rating from Truist Financial

Truist Financial restated their buy rating on shares of Genuine Parts (NYSE:GPC) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $167.00 target price on the specialty retailer’s stock.

Several other analysts have also recently weighed in on the company. Evercore ISI boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an in-line rating in a report on Tuesday, March 26th. Wedbush reiterated a neutral rating and issued a $140.00 target price on shares of Genuine Parts in a report on Friday, February 16th. Finally, StockNews.com upgraded Genuine Parts from a hold rating to a buy rating in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $168.89.

Genuine Parts Stock Performance

NYSE:GPC opened at $145.38 on Friday. The stock has a market cap of $20.27 billion, a P/E ratio of 15.58 and a beta of 0.94. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The stock’s 50-day moving average is $149.38 and its 200-day moving average is $142.07. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.06. The company had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 earnings per share. Equities research analysts anticipate that Genuine Parts will post 9.76 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.75%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s dividend payout ratio is presently 42.87%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

Institutional investors have recently modified their holdings of the company. Comerica Bank acquired a new position in shares of Genuine Parts during the second quarter worth approximately $190,000. Sunbelt Securities Inc. raised its position in shares of Genuine Parts by 122.2% during the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 88 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Genuine Parts during the third quarter worth approximately $25,000. OFI Invest Asset Management purchased a new stake in Genuine Parts in the 3rd quarter valued at $25,000. Finally, First Capital Advisors Group LLC. purchased a new stake in Genuine Parts in the 2nd quarter valued at $31,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Company Profile

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.