Goldman Sachs Group assumed coverage on shares of Genuine Parts (NYSE:GPC) in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $107.00 target price on the specialty retailer’s stock.
GPC has been the topic of a number of other reports. Zacks Investment Research raised shares of GALP ENERGIA SG/ADR from a sell rating to a hold rating in a research note on Monday, May 27th. Stephens assumed coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They issued an overweight rating and a $114.00 price target on the stock. ValuEngine raised shares of Alleghany from a hold rating to a buy rating in a research note on Friday, April 19th. Finally, Evercore ISI assumed coverage on shares of Polarityte in a research note on Wednesday, March 20th. They issued an outperform rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Genuine Parts presently has an average rating of Hold and an average target price of $106.67.
NYSE:GPC opened at $105.41 on Thursday. Genuine Parts has a 52 week low of $91.04 and a 52 week high of $115.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.64. The firm has a market cap of $15.40 billion, a PE ratio of 18.49, a PEG ratio of 3.48 and a beta of 0.94. The company’s 50-day simple moving average is $102.37.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $1.28 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.03). The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.79 billion. Genuine Parts had a net margin of 4.20% and a return on equity of 23.46%. Genuine Parts’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $1.27 earnings per share. As a group, equities research analysts expect that Genuine Parts will post 5.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $0.7625 dividend. This represents a $3.05 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Thursday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is 53.70%.
In other Genuine Parts news, insider Scott Sonnemaker bought 5,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average cost of $99.01 per share, with a total value of $495,050.00. Following the purchase, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $495,050. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.50% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. 6 Meridian lifted its stake in Genuine Parts by 2.2% in the 2nd quarter. 6 Meridian now owns 5,013 shares of the specialty retailer’s stock worth $519,000 after purchasing an additional 106 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in Genuine Parts by 5.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 33,434 shares of the specialty retailer’s stock worth $3,463,000 after purchasing an additional 1,792 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in Genuine Parts by 0.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 13,630 shares of the specialty retailer’s stock worth $1,412,000 after purchasing an additional 125 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Genuine Parts in the 2nd quarter worth approximately $2,641,000. Finally, Webster Bank N. A. purchased a new position in Genuine Parts in the 2nd quarter worth approximately $116,000. 76.32% of the stock is currently owned by institutional investors and hedge funds.
Genuine Parts Company Profile
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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