Genuine Parts Company (GPC) Receives Average Recommendation of “Hold” from Analysts
Shares of Genuine Parts Company (NYSE:GPC) have received an average recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $96.60.
GPC has been the topic of a number of recent analyst reports. Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Friday, July 21st. BidaskClub lowered shares of Genuine Parts from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada lifted their price objective on shares of Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 26th.
Shares of Genuine Parts (GPC) traded up 0.20% during midday trading on Wednesday, hitting $95.71. 253,478 shares of the stock were exchanged. The stock has a market capitalization of $14.05 billion, a price-to-earnings ratio of 20.72 and a beta of 1.10. Genuine Parts has a 1-year low of $79.86 and a 1-year high of $100.90. The firm’s 50 day moving average is $88.38 and its 200-day moving average is $89.02.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.02). Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts predict that Genuine Parts will post $4.73 EPS for the current year.
Genuine Parts announced that its board has initiated a stock repurchase plan on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 2.83%. The ex-dividend date was Thursday, September 7th. Genuine Parts’s dividend payout ratio is 58.32%.
Several hedge funds and other institutional investors have recently bought and sold shares of GPC. Sun Life Financial INC raised its position in shares of Genuine Parts by 15,400.0% in the second quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 1,078 shares during the period. Global X Management Co. LLC raised its position in shares of Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock valued at $152,000 after purchasing an additional 373 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in shares of Genuine Parts by 151.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock valued at $177,000 after purchasing an additional 1,147 shares during the period. Van ECK Associates Corp raised its position in shares of Genuine Parts by 7.3% in the first quarter. Van ECK Associates Corp now owns 2,274 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 155 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Genuine Parts in the first quarter valued at approximately $213,000. 74.43% of the stock is currently owned by institutional investors.
About Genuine Parts
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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