Genuine Parts Company (GPC) Upgraded to “Hold” by Zacks Investment Research

Genuine Parts Company (NYSE:GPC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Earnings estimates for Genuine Parts have been declining of late. The company’s fourth-quarter 2016 earnings surpassed the Zacks Consensus Estimate but decreased year over year. High level of inventory is a challenge for the company. The high proportion of inventory in current assets can affect the short-term liquidity of the company in periods of low sales. Moreover, the company also saw lower generation of cash flow from operations in 2016 compared to 2015. Genuine Parts also underperformed the Zacks categorized Auto/Truck-Replacement Parts industry over the last three months. However, Genuine Parts has undertaken various initiatives to boost sales and earnings, such as product line expansion, penetration into new markets, cost-saving activities, share repurchases and acquisitions.”

A number of other research firms have also commented on GPC. Wedbush restated a “neutral” rating on shares of Genuine Parts Company in a research report on Tuesday, December 13th. Atlantic Securities began coverage on Genuine Parts Company in a research report on Wednesday, December 14th. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Goldman Sachs Group Inc upgraded Genuine Parts Company from a “sell” rating to a “neutral” rating and increased their price target for the stock from $95.00 to $105.00 in a research report on Thursday, January 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $102.44.

Analyst Recommendations for Genuine Parts Company (NYSE:GPC)

Shares of Genuine Parts Company (NYSE:GPC) traded up 0.04% during trading on Tuesday, hitting $92.94. The stock had a trading volume of 180,899 shares. The company has a market cap of $13.79 billion, a P/E ratio of 20.25 and a beta of 0.93. Genuine Parts Company has a one year low of $86.61 and a one year high of $105.97. The stock’s 50-day moving average price is $92.40 and its 200-day moving average price is $95.25.

Genuine Parts Company (NYSE:GPC) last released its quarterly earnings data on Wednesday, April 19th. The specialty retailer reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.03. Genuine Parts Company had a return on equity of 21.43% and a net margin of 4.57%. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the company posted $1.05 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that Genuine Parts Company will post $4.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 10th were paid a $0.675 dividend. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Genuine Parts Company’s previous quarterly dividend of $0.66. Genuine Parts Company’s dividend payout ratio is 56.68%.

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Several hedge funds and other institutional investors have recently bought and sold shares of GPC. State of Alaska Department of Revenue bought a new position in Genuine Parts Company during the first quarter worth $208,000. City Holding Co. increased its position in Genuine Parts Company by 2.4% in the first quarter. City Holding Co. now owns 14,484 shares of the specialty retailer’s stock worth $1,338,000 after buying an additional 340 shares during the period. Oakbrook Investments LLC increased its position in Genuine Parts Company by 85.1% in the first quarter. Oakbrook Investments LLC now owns 14,250 shares of the specialty retailer’s stock worth $1,317,000 after buying an additional 6,550 shares during the period. Sabal Trust CO increased its position in Genuine Parts Company by 1.2% in the first quarter. Sabal Trust CO now owns 215,086 shares of the specialty retailer’s stock worth $19,876,000 after buying an additional 2,584 shares during the period. Finally, Bollard Group LLC increased its position in Genuine Parts Company by 15.5% in the first quarter. Bollard Group LLC now owns 23,335 shares of the specialty retailer’s stock worth $2,156,000 after buying an additional 3,135 shares during the period. 71.75% of the stock is currently owned by institutional investors.

Genuine Parts Company Company Profile

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.

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