JPMorgan Chase & Co. upgraded shares of Genuine Parts (NYSE:GPC) from a neutral rating to an overweight rating in a research report sent to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has $117.00 price target on the specialty retailer’s stock, up from their previous price target of $90.00.
A number of other analysts also recently issued reports on the company. Argus lifted their price objective on Genuine Parts from $84.00 to $105.00 in a research note on Friday, August 14th. Royal Bank of Canada lifted their price objective on Genuine Parts from $80.00 to $90.00 and gave the stock a sector perform rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Genuine Parts has an average rating of Hold and an average target price of $96.25.
Shares of GPC opened at $101.36 on Monday. The business’s 50 day moving average is $94.92 and its 200 day moving average is $83.19. The company has a market capitalization of $14.62 billion, a PE ratio of -75.08, a price-to-earnings-growth ratio of 13.43 and a beta of 1.09. Genuine Parts has a 12-month low of $49.68 and a 12-month high of $108.58. The company has a current ratio of 1.22, a quick ratio of 0.66 and a debt-to-equity ratio of 0.95.
Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, July 30th. The specialty retailer reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.39. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $4.45 billion. Genuine Parts had a positive return on equity of 21.67% and a negative net margin of 1.06%. Equities research analysts predict that Genuine Parts will post 4.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Thursday, September 3rd. Genuine Parts’s payout ratio is currently 55.54%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Genuine Parts by 1.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 151,769 shares of the specialty retailer’s stock worth $13,198,000 after buying an additional 1,717 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Genuine Parts by 1.2% in the 2nd quarter. Principal Financial Group Inc. now owns 214,607 shares of the specialty retailer’s stock worth $18,663,000 after buying an additional 2,469 shares during the period. WFA of San Diego LLC purchased a new stake in shares of Genuine Parts in the 2nd quarter worth $1,224,000. Smith Shellnut Wilson LLC ADV purchased a new stake in shares of Genuine Parts in the 2nd quarter worth $205,000. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Genuine Parts in the 2nd quarter worth $3,264,000. Institutional investors own 77.41% of the company’s stock.
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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