Genuine Parts (NYSE:GPC) PT Lowered to $155.00

Genuine Parts (NYSE:GPC) had its price target reduced by equities research analysts at Evercore ISI from $160.00 to $155.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s price objective would suggest a potential upside of 7.59% from the company’s previous close.

Several other equities analysts have also recently weighed in on GPC. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Truist Financial reiterated a “buy” rating and issued a $167.00 price target on shares of Genuine Parts in a research report on Friday, April 12th. Finally, Wedbush reiterated a “neutral” rating and issued a $140.00 price target on shares of Genuine Parts in a research report on Friday, February 16th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.33.

Genuine Parts Stock Performance

Shares of GPC opened at $144.07 on Tuesday. The firm has a market cap of $20.09 billion, a PE ratio of 15.44 and a beta of 0.94. The stock’s fifty day moving average price is $149.56 and its two-hundred day moving average price is $142.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.06. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 9.76 EPS for the current year.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank lifted its stake in shares of Genuine Parts by 10.7% in the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after acquiring an additional 4,047 shares during the last quarter. Conning Inc. raised its position in Genuine Parts by 5.9% during the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after purchasing an additional 12,634 shares during the last quarter. Teza Capital Management LLC bought a new position in Genuine Parts during the 3rd quarter valued at approximately $1,593,000. LPL Financial LLC raised its position in Genuine Parts by 15.1% during the 3rd quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock valued at $20,427,000 after purchasing an additional 18,522 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. raised its position in Genuine Parts by 26.2% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock valued at $33,309,000 after purchasing an additional 50,000 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Company Profile

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.