Genuine Parts (NYSE:GPC) Coverage Initiated by Analysts at Loop Capital

Investment analysts at Loop Capital started coverage on shares of Genuine Parts (NYSE:GPC) in a report issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $155.00 price target on the specialty retailer’s stock. Loop Capital’s target price points to a potential upside of 31.77% from the company’s current price.

Several other research analysts also recently commented on GPC. UBS Group decreased their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Wedbush decreased their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial dropped their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $141.50.

Genuine Parts Price Performance

NYSE GPC opened at $117.63 on Thursday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $16.35 billion, a P/E ratio of 15.14 and a beta of 0.95. The company has a 50-day moving average price of $120.95 and a 200-day moving average price of $130.71. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.49 earnings per share. Equities research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was 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 in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the third quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the 3rd quarter worth $31,000. Concord Wealth Partners increased its holdings in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at about $44,000. Finally, First Financial Corp IN bought a new position in shares of Genuine Parts in the 4th quarter valued at about $44,000. 78.83% of the stock is currently owned by institutional investors.

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.