Genuine Parts Company Stock Rating Upgraded by McLean Capital Management (GPC)
Genuine Parts Company (NYSE:GPC) was upgraded by stock analysts at McLean Capital Management from a “neutral” rating to a “buy” rating in a report issued on Friday, Analyst Ratings Network.com reports.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Genuine Parts Company from $82.00 to $91.00 in a research note on Wednesday. They now have a “sector perform” rating on the stock. Separately, analysts at Ned Davis Research upgraded shares of Genuine Parts Company from a “neutral” rating to a “buy” rating in a research note on Tuesday. Finally, analysts at Ned Davis Research downgraded shares of Genuine Parts Company from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $82.44.
Shares of Genuine Parts Company (NYSE:GPC) traded up 0.23% during mid-day trading on Friday, hitting $87.25. 541,972 shares of the company’s stock traded hands. Genuine Parts Company has a one year low of $68.59 and a one year high of $90.00. The stock has a 50-day moving average of $82.8 and a 200-day moving average of $81.14. The company has a market cap of $13.468 billion and a P/E ratio of 19.52.
Genuine Parts Company (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.43 billion. On average, analysts predict that Genuine Parts Company will post $4.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Genuine Parts Company’s previous quarterly dividend of $0.54.
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials.
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