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

Equities researchers at Loop Capital assumed coverage on shares of Genuine Parts (NYSE:GPC) in a research report issued to clients and investors on Thursday,Benzinga reports. The firm set a “buy” rating and a $155.00 price target on the specialty retailer’s stock. Loop Capital’s price objective would suggest a potential upside of 31.77% from the company’s previous close.

A number of other analysts have also weighed in on GPC. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Wedbush reduced their price target 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. UBS Group lowered their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $141.50.

Genuine Parts Price Performance

GPC stock opened at $117.63 on Thursday. The stock has a market cap of $16.35 billion, a PE ratio of 15.14 and a beta of 0.95. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a 50-day moving average price of $120.95 and a 200 day moving average price of $130.71. 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 announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 EPS. Equities research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Institutional Trading of Genuine Parts

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