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

Genuine Parts (NYSE:GPC) had its target price reduced by research analysts at Evercore ISI from $165.00 to $160.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s target price suggests a potential upside of 19.85% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Jefferies Financial Group upped their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Truist Financial raised their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Wedbush reiterated a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $167.75.

Genuine Parts Stock Down 1.8 %

Genuine Parts stock opened at $133.50 on Tuesday. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $170.57. The stock has a fifty day simple moving average of $146.85 and a two-hundred day simple moving average of $146.44. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The firm has a market cap of $18.60 billion, a price-to-earnings ratio of 14.88 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. Genuine Parts’s revenue was up .3% on a year-over-year basis. Equities analysts predict that Genuine Parts will post 9.92 EPS for the current fiscal year.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GPC. WD Rutherford LLC bought a new stake in shares of Genuine Parts in the 1st quarter worth about $26,000. Assetmark Inc. lifted its stake in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. Union Savings Bank boosted its position in shares of Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 100 shares during the period. Thompson Investment Management Inc. bought a new position in shares of Genuine Parts during the first quarter valued at approximately $35,000. Finally, Stephens Consulting LLC raised its holdings in shares of Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares during the period. 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.