Evercore ISI Upgrades Genuine Parts (NYSE:GPC) to “Outperform”

Genuine Parts (NYSE:GPC) was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has a $135.00 price target on the specialty retailer’s stock. Evercore ISI’s target price points to a potential upside of 13.76% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.88.

Genuine Parts Stock Down 1.2 %

GPC opened at $118.67 on Friday. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average price of $121.17 and a 200-day moving average price of $123.69. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of 18.34 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the business earned $2.26 EPS. Equities research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GPC. Quantinno Capital Management LP boosted its stake in shares of Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after acquiring an additional 4,809 shares during the period. Caprock Group LLC bought a new position in Genuine Parts in the 4th quarter worth approximately $540,000. Verity & Verity LLC boosted its stake in Genuine Parts by 9.7% in the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after purchasing an additional 9,199 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $21,840,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Genuine Parts by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after buying an additional 56,776 shares in the last quarter. 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.