Genuine Parts (NYSE:GPC) has received a consensus rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $105.86.
A number of analysts have weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Genuine Parts in a report on Thursday, July 11th. They set a “neutral” rating and a $107.00 price objective on the stock. Royal Bank of Canada set a $101.00 price objective on shares of Genuine Parts and gave the stock a “hold” rating in a report on Friday, July 19th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 target price on the stock in a research report on Wednesday, July 24th. Stephens assumed coverage on shares of Genuine Parts in a research report on Thursday, May 30th. They set an “overweight” rating and a $114.00 target price on the stock. Finally, Jefferies Financial Group set a $102.00 target price on shares of Genuine Parts and gave the stock a “hold” rating in a research report on Friday, July 19th.
Several institutional investors and hedge funds have recently made changes to their positions in GPC. Comerica Securities Inc. purchased a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $256,000. Dimensional Fund Advisors LP grew its holdings in shares of Genuine Parts by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 904,189 shares of the specialty retailer’s stock valued at $86,820,000 after buying an additional 22,731 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Genuine Parts by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock valued at $188,434,000 after buying an additional 163,768 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Genuine Parts during the first quarter valued at approximately $201,000. Finally, Retirement Systems of Alabama grew its holdings in shares of Genuine Parts by 0.4% during the first quarter. Retirement Systems of Alabama now owns 67,957 shares of the specialty retailer’s stock valued at $7,613,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 77.93% of the company’s stock.
Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5 billion. During the same period in the previous year, the business posted $1.59 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that Genuine Parts will post 5.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.7625 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.48%. Genuine Parts’s dividend payout ratio (DPR) is presently 53.70%.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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