Genuine Parts (NYSE:GPC) Price Target Cut to $150.00

Genuine Parts (NYSE:GPC) had its price objective cut by equities researchers at UBS Group from $165.00 to $150.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. UBS Group’s price target suggests a potential upside of 12.46% from the company’s current price.

Other analysts have also issued research reports about the stock. Evercore ISI lowered their price target on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Tuesday. Truist Financial upped their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group upped their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Finally, Wedbush reaffirmed a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $167.75.

Genuine Parts Stock Performance

Shares of GPC stock opened at $133.38 on Wednesday. The firm’s 50-day simple moving average is $146.30 and its two-hundred day simple moving average is $146.35. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm has a market cap of $18.58 billion, a price-to-earnings ratio of 14.87 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm posted $2.14 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities analysts forecast that Genuine Parts will post 9.92 earnings per share for the current year.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently made changes to their positions in GPC. Axxcess Wealth Management LLC boosted its stake in shares of Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after purchasing an additional 74 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Genuine Parts by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock valued at $235,916,000 after buying an additional 313,438 shares during the period. Lido Advisors LLC boosted its position in Genuine Parts by 37.9% during the 3rd quarter. Lido Advisors LLC now owns 4,152 shares of the specialty retailer’s stock valued at $599,000 after buying an additional 1,141 shares during the period. Seven Eight Capital LP boosted its position in Genuine Parts by 252.6% during the 3rd quarter. Seven Eight Capital LP now owns 11,523 shares of the specialty retailer’s stock valued at $1,664,000 after buying an additional 8,255 shares during the period. Finally, Sei Investments Co. boosted its position in Genuine Parts by 1.0% during the 3rd quarter. Sei Investments Co. now owns 108,474 shares of the specialty retailer’s stock valued at $15,662,000 after buying an additional 1,102 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.