Genuine Parts (NYSE:GPC) Upgraded to Neutral at Bank of America

Bank of America upgraded shares of Genuine Parts (NYSE:GPC) from an underperform rating to a neutral rating in a research note published on Friday, April 13th, Marketbeat Ratings reports. The firm currently has $96.00 price target on the specialty retailer’s stock.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Genuine Parts from a buy rating to a hold rating in a research report on Tuesday, March 13th. JPMorgan Chase reiterated a neutral rating and issued a $107.00 target price (down from $114.00) on shares of Genuine Parts in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reduced their target price on shares of Genuine Parts to $100.00 and set a market perform rating for the company in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Genuine Parts has an average rating of Hold and an average target price of $100.00.

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NYSE:GPC opened at $88.14 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.74. The firm has a market cap of $13,405.67, a price-to-earnings ratio of 19.65, a P/E/G ratio of 2.40 and a beta of 1.16. Genuine Parts has a fifty-two week low of $79.86 and a fifty-two week high of $107.75.



Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 19th. The specialty retailer reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.05). The company had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.48 billion. Genuine Parts had a return on equity of 20.48% and a net margin of 3.78%. The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. equities research analysts predict that Genuine Parts will post 5.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 9th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, March 8th. Genuine Parts’s dividend payout ratio is 62.07%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. grew its holdings in shares of Genuine Parts by 5.9% in the fourth quarter. OppenheimerFunds Inc. now owns 26,272 shares of the specialty retailer’s stock valued at $2,496,000 after purchasing an additional 1,472 shares during the period. Barings LLC purchased a new stake in shares of Genuine Parts in the fourth quarter valued at about $337,000. Sawyer & Company Inc purchased a new stake in shares of Genuine Parts in the fourth quarter valued at about $599,000. Synovus Financial Corp grew its holdings in shares of Genuine Parts by 2.2% in the fourth quarter. Synovus Financial Corp now owns 283,501 shares of the specialty retailer’s stock valued at $26,980,000 after purchasing an additional 6,187 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Genuine Parts by 156.7% in the third quarter. Cubist Systematic Strategies LLC now owns 12,984 shares of the specialty retailer’s stock valued at $1,242,000 after purchasing an additional 7,925 shares during the period. Institutional investors and hedge funds own 75.30% of the company’s stock.

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Genuine Parts Company Profile

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.

Analyst Recommendations for Genuine Parts (NYSE:GPC)

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