Royal Bank of Canada set a $99.00 price target on Genuine Parts (NYSE:GPC) in a research report sent to investors on Friday, TipRanks reports. The brokerage currently has a hold rating on the specialty retailer’s stock.
GPC has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $114.00 to $104.00 and set a neutral rating for the company in a research note on Monday, July 15th. Bank of America lifted their price objective on shares of Genuine Parts from $100.00 to $105.00 and gave the company a neutral rating in a research note on Thursday, September 12th. Raymond James began coverage on shares of Genuine Parts in a research note on Monday, October 7th. They set a market perform rating for the company. Zacks Investment Research upgraded shares of Genuine Parts from a sell rating to a hold rating and set a $103.00 price objective for the company in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group set a $102.00 price objective on shares of Genuine Parts and gave the company a hold rating in a research note on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $105.50.
NYSE:GPC opened at $101.35 on Friday. The company has a market cap of $14.45 billion, a PE ratio of 17.36, a P/E/G ratio of 3.25 and a beta of 0.95. Genuine Parts has a twelve month low of $87.26 and a twelve month high of $115.20. The company has a current ratio of 1.26, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average is $95.97 and its two-hundred day moving average is $99.49.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, October 17th. The specialty retailer reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.03. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.03 billion. Genuine Parts had a net margin of 4.14% and a return on equity of 23.20%. Genuine Parts’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 EPS. As a group, analysts expect that Genuine Parts will post 5.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.7625 per share. This represents a $3.05 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, September 5th. Genuine Parts’s payout ratio is 53.70%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP lifted its position in Genuine Parts by 5.9% in the first quarter. First Trust Advisors LP now owns 351,993 shares of the specialty retailer’s stock valued at $39,434,000 after buying an additional 19,660 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in Genuine Parts in the first quarter valued at about $44,000. Advisory Services Network LLC lifted its position in Genuine Parts by 7.0% in the first quarter. Advisory Services Network LLC now owns 2,773 shares of the specialty retailer’s stock valued at $311,000 after buying an additional 182 shares during the last quarter. FMR LLC lifted its position in Genuine Parts by 0.3% in the first quarter. FMR LLC now owns 176,981 shares of the specialty retailer’s stock valued at $19,827,000 after buying an additional 591 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in Genuine Parts by 6.0% in the second quarter. DNB Asset Management AS now owns 63,949 shares of the specialty retailer’s stock valued at $6,624,000 after buying an additional 3,644 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.
About Genuine Parts
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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