Genuine Parts (NYSE:GPC) Stock Rating Upgraded by StockNews.com

Genuine Parts (NYSE:GPC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other equities research analysts have also weighed in on the stock. UBS Group reduced their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Jefferies Financial Group raised their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Truist Financial reduced their price objective on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Tuesday. Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, Evercore ISI dropped their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

Shares of GPC stock opened at $137.96 on Wednesday. The firm has a market capitalization of $19.22 billion, a price-to-earnings ratio of 15.38 and a beta of 0.92. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The business has a fifty day moving average of $140.51 and a 200 day moving average of $146.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.39%. Genuine Parts’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.44 EPS. As a group, research analysts expect that Genuine Parts will post 9.4 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Genuine Parts

Institutional investors and hedge funds have recently bought and sold shares of the business. Assetmark Inc. boosted its stake in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares in the last quarter. WD Rutherford LLC acquired a new position in Genuine Parts during the first quarter worth $26,000. Union Savings Bank boosted its stake in shares of Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $35,000. Finally, Stephens Consulting LLC grew its holdings in shares of Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. 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.