Genuine Parts (NYSE:GPC) PT Lowered to $145.00

Genuine Parts (NYSE:GPC) had its price target lowered by research analysts at Wedbush from $170.00 to $145.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. Wedbush’s price target indicates a potential upside of 6.43% from the stock’s previous close.

Other analysts have also issued reports about the company. Truist Financial dropped their price objective on Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday. The Goldman Sachs Group dropped their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Wednesday. Evercore ISI dropped their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday. Finally, UBS Group lowered their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Performance

GPC stock traded down $0.97 during trading on Wednesday, hitting $136.24. 568,692 shares of the company traded hands, compared to its average volume of 1,021,097. The stock’s 50-day simple moving average is $141.22 and its 200 day simple moving average is $146.39. 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 company has a market cap of $18.98 billion, a PE 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 $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that Genuine Parts will post 9.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Genuine Parts

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