Genuine Parts (NYSE:GPC) Reaches New 52-Week Low – Here’s Why

Genuine Parts (NYSE:GPC)’s stock price reached a new 52-week low on Monday . The company traded as low as $108.96 and last traded at $109.59, with a volume of 124346 shares changing hands. The stock had previously closed at $116.81.

Analysts Set New Price Targets

Several brokerages recently weighed in on GPC. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. The Goldman Sachs Group reissued a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Evercore ISI upgraded Genuine Parts from an “in-line” rating to an “outperform” rating and raised their target price for the company from $128.00 to $135.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $135.88.

Genuine Parts Stock Down 5.4 %

The company has a market cap of $15.33 billion, a PE ratio of 17.08 and a beta of 0.82. The firm has a 50-day simple moving average of $121.16 and a two-hundred day simple moving average of $123.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the firm posted $2.26 earnings per share. Research analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were given a $1.03 dividend. The ex-dividend date was Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.73%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is presently 63.68%.

Hedge Funds Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new stake in Genuine Parts during the 4th quarter worth approximately $25,000. Kestra Investment Management LLC bought a new stake in shares of Genuine Parts in the fourth quarter worth $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts in the fourth quarter valued at $28,000. Compass Planning Associates Inc acquired a new position in Genuine Parts during the 4th quarter worth $29,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the 4th quarter valued at about $32,000. 78.83% of the stock is owned by institutional investors and hedge funds.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.