Evercore ISI Increases Genuine Parts (NYSE:GPC) Price Target to $160.00

Genuine Parts (NYSE:GPC) had its price target raised by equities researchers at Evercore ISI from $155.00 to $160.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s target price indicates a potential upside of 37.65% from the stock’s current price.

GPC has been the topic of several other research reports. Wedbush cut their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. UBS Group reduced their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. JPMorgan Chase & Co. raised their price objective on shares of Genuine Parts from $157.00 to $162.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $116.24 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The company has a market cap of $16.19 billion, a PE ratio of 12.96 and a beta of 0.90. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a 50 day moving average of $138.64 and a 200-day moving average of $142.82.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the company earned $2.49 earnings per share. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genuine Parts

Large investors have recently modified their holdings of the company. Comerica Bank boosted its position in Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after acquiring an additional 18,657 shares during the last quarter. Mezzasalma Advisors LLC raised its position in shares of Genuine Parts by 497.0% in the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock worth $1,865,000 after acquiring an additional 10,019 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Genuine Parts by 137.9% in the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after purchasing an additional 13,330 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Genuine Parts during the 1st quarter valued at about $3,083,000. Finally, Wellington Management Group LLP grew its stake in Genuine Parts by 726.9% during the fourth quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock worth $7,582,000 after purchasing an additional 48,122 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.