Genuine Parts’ (GPC) Neutral Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Genuine Parts (NYSE:GPC) in a research note released on Tuesday.

Several other equities analysts have also recently issued reports on GPC. Zacks Investment Research raised Genuine Parts from a hold rating to a buy rating and set a $104.00 price objective for the company in a report on Friday, January 4th. ValuEngine cut Genuine Parts from a buy rating to a hold rating in a report on Thursday, November 1st. Finally, Bank of America raised Genuine Parts from an underperform rating to a neutral rating in a report on Wednesday, January 9th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $103.00.

Shares of GPC opened at $97.93 on Tuesday. Genuine Parts has a one year low of $85.80 and a one year high of $107.75. The company has a quick ratio of 0.71, a current ratio of 1.33 and a debt-to-equity ratio of 0.67. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 3.23 and a beta of 1.06.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, October 18th. The specialty retailer reported $1.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.48. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Genuine Parts had a return on equity of 22.54% and a net margin of 3.99%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS. As a group, equities research analysts expect that Genuine Parts will post 5.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Friday, December 7th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, December 6th. This represents a $2.88 annualized dividend and a dividend yield of 2.94%. Genuine Parts’s dividend payout ratio is presently 62.07%.

In other Genuine Parts news, Director John R. Holder purchased 500 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The stock was purchased at an average price of $100.81 per share, for a total transaction of $50,405.00. Following the purchase, the director now directly owns 7,058 shares in the company, valued at $711,516.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Ipswich Investment Management Co. Inc. purchased a new stake in Genuine Parts during the 4th quarter worth approximately $48,000. Baird Financial Group Inc. increased its stake in Genuine Parts by 2.5% during the 3rd quarter. Baird Financial Group Inc. now owns 21,618 shares of the specialty retailer’s stock worth $2,147,000 after buying an additional 520 shares in the last quarter. Warren Averett Asset Management LLC increased its stake in Genuine Parts by 7.0% during the 3rd quarter. Warren Averett Asset Management LLC now owns 8,827 shares of the specialty retailer’s stock worth $877,000 after buying an additional 575 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in Genuine Parts by 0.3% during the 3rd quarter. Gateway Investment Advisers LLC now owns 180,588 shares of the specialty retailer’s stock worth $17,950,000 after buying an additional 606 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Genuine Parts by 1.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 36,483 shares of the specialty retailer’s stock worth $3,349,000 after buying an additional 648 shares in the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

About Genuine Parts

Genuine Parts Co engages in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. It operates through the following segments: Automotive, Industrial, Office Products, and Electrical/Electronic Materials. The Automotive segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

See Also: Technical Analysis

Analyst Recommendations for Genuine Parts (NYSE:GPC)

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