GPC - Genuine Parts: The Buying Opportunity Has Now Arrived (Rating Upgrade)
2024-06-01 07:30:00 ET
Summary
- A share price decline and higher fair value estimate have me upgrading Genuine Parts stock back to a buy.
- The company's net sales and adjusted diluted EPS edged higher during the first quarter.
- Genuine Parts' interest coverage ratio was clocked in at above 19 in Q1.
- Shares could be priced 10% below fair value.
- The stock could be set up to deliver nearly 40% cumulative total returns through 2026.
As a dividend growth investor, there are many businesses that I appreciate and own. This probably doesn't come as a shocker to learn.
When somebody researches as many quality dividend stocks as I do, there are bound to be quite a few that stand out in some way. For some businesses, it's remarkably high profit margins and capital-light business models. Think Visa ( V )....
Genuine Parts: The Buying Opportunity Has Now Arrived (Rating Upgrade)