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

Genuine Parts (NYSE:GPC) had its price objective cut by equities researchers at Evercore ISI from $165.00 to $160.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s price target would indicate a potential upside of 17.41% from the company’s previous close.

GPC has been the subject of several other reports. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Truist Financial boosted their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Wedbush restated a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus price target of $169.00.

Genuine Parts Trading Up 1.8 %

Shares of Genuine Parts stock traded up $2.43 on Tuesday, reaching $136.28. The company had a trading volume of 172,753 shares, compared to its average volume of 988,072. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The firm’s 50-day moving average price is $147.96 and its two-hundred day moving average price is $146.55. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of 15.19 and a beta of 0.92. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $170.57.

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, beating analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. As a group, research analysts predict that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of the company’s 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 of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Axxcess Wealth Management LLC grew its position in Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after acquiring an additional 74 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Genuine Parts by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after buying an additional 313,438 shares during the period. Lido Advisors LLC boosted its position in shares of Genuine Parts by 37.9% during the third quarter. Lido Advisors LLC now owns 4,152 shares of the specialty retailer’s stock worth $599,000 after buying an additional 1,141 shares during the period. Seven Eight Capital LP boosted its position in shares of Genuine Parts by 252.6% during the third quarter. Seven Eight Capital LP now owns 11,523 shares of the specialty retailer’s stock worth $1,664,000 after buying an additional 8,255 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Genuine Parts by 1.0% during the third quarter. Sei Investments Co. now owns 108,474 shares of the specialty retailer’s stock worth $15,662,000 after buying an additional 1,102 shares during the period. Institutional investors and hedge funds 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.