Genuine Parts (NYSE:GPC) Stock Rating Lowered by Northcoast Research

Genuine Parts (NYSE:GPC) was downgraded by investment analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat reports.

Several other analysts have also recently issued reports on the stock. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Price Performance

NYSE:GPC opened at $118.43 on Friday. The stock has a 50 day moving average of $120.69 and a two-hundred day moving average of $130.39. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The firm has a market cap of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the company posted $2.49 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genuine Parts

Several institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Genuine Parts in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners grew its holdings in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts during the 3rd quarter worth approximately $44,000. Finally, Armstrong Advisory Group Inc. lifted its holdings in Genuine Parts by 63.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.