Genuine Parts Company (NYSE:GPC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Genuine Parts Company (NYSE:GPC) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $148.00.

Several research firms have recently weighed in on GPC. JPMorgan Chase & Co. boosted their target price on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Evercore ISI lifted their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a report on Wednesday. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their target price for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. Finally, Truist Financial upped their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st.

Genuine Parts Stock Down 0.3%

Shares of NYSE:GPC opened at $125.49 on Monday. The firm has a 50 day simple moving average of $129.05 and a 200-day simple moving average of $130.86. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $143.48. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $17.46 billion, a PE ratio of 21.60 and a beta of 0.74.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the prior year, the business earned $1.88 earnings per share. Genuine Parts’s revenue was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, equities analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 5th. Genuine Parts’s payout ratio is currently 70.91%.

Insider Buying and Selling

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the sale, the executive vice president owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

Large investors have recently modified their holdings of the business. Allworth Financial LP lifted its position in shares of Genuine Parts by 16.9% during the 3rd quarter. Allworth Financial LP now owns 5,185 shares of the specialty retailer’s stock valued at $719,000 after acquiring an additional 751 shares during the period. Swiss Life Asset Management Ltd grew its holdings in shares of Genuine Parts by 3.8% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 121,704 shares of the specialty retailer’s stock worth $16,868,000 after acquiring an additional 4,483 shares during the period. Strategic Advocates LLC purchased a new position in Genuine Parts in the 3rd quarter valued at approximately $37,000. CIBC Private Wealth Group LLC raised its holdings in Genuine Parts by 6.2% during the third quarter. CIBC Private Wealth Group LLC now owns 5,291 shares of the specialty retailer’s stock worth $733,000 after purchasing an additional 307 shares during the last quarter. Finally, Prana Capital Management LP purchased a new stake in Genuine Parts during the third quarter worth $350,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Company Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.