Genuine Parts (NYSE:GPC) Given New $128.00 Price Target at Evercore ISI

Genuine Parts (NYSE:GPC) had its price target hoisted by equities research analysts at Evercore ISI from $125.00 to $128.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s price target suggests a potential upside of 8.73% from the company’s current price.

GPC has been the subject of a number of other research reports. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $135.00.

Genuine Parts Price Performance

NYSE:GPC traded down $1.42 during mid-day trading on Tuesday, reaching $117.73. 238,178 shares of the stock were exchanged, compared to its average volume of 1,209,463. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average price of $121.14 and a 200 day moving average price of $123.88. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The firm has a market capitalization of $16.34 billion, a PE ratio of 18.18 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the prior year, the business earned $2.26 earnings per share. Research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Geode Capital Management LLC lifted its stake in Genuine Parts by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock valued at $391,604,000 after acquiring an additional 65,783 shares during the last quarter. Invesco Ltd. grew its position in Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock worth $380,898,000 after acquiring an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after purchasing an additional 145,960 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer’s stock valued at $292,233,000 after purchasing an additional 445,259 shares in the last quarter. Hedge funds and other 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.