Genuine Parts (NYSE:GPC) PT Lowered to $160.00

Genuine Parts (NYSE:GPC) had its price objective dropped by analysts at Evercore ISI from $165.00 to $160.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s target price would suggest a potential upside of 17.41% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Jefferies Financial Group raised their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Truist Financial raised their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $169.00.

Genuine Parts Stock Up 1.8 %

Genuine Parts stock traded up $2.43 during mid-day trading on Tuesday, reaching $136.28. The company’s stock had a trading volume of 172,753 shares, compared to its average volume of 988,072. The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of 15.19 and a beta of 0.92. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $170.57. The business’s 50 day simple moving average is $147.96 and its 200 day simple moving average is $146.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14.

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

Insiders Place Their Bets

In other 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 transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. lifted its position in shares of Genuine Parts by 27.1% in the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock worth $433,000 after purchasing an additional 668 shares during the period. ICW Investment Advisors LLC lifted its position in shares of Genuine Parts by 2.8% during the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after acquiring an additional 221 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Genuine Parts by 22.0% during the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after acquiring an additional 26,710 shares during the period. Stifel Financial Corp lifted its position in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares during the period. Finally, Conning Inc. lifted its position in shares of 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 acquiring an additional 12,634 shares during the period. Institutional investors and hedge funds 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.