Genuine Parts (NYSE:GPC) Downgraded by Northcoast Research to Neutral

Genuine Parts (NYSE:GPC) was downgraded by stock analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat.com reports.

GPC has been the subject of a number of other reports. Truist Financial reduced their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, Wedbush lowered their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Trading Up 1.7 %

NYSE GPC opened at $119.38 on Friday. The company has a fifty day moving average of $120.76 and a 200 day moving average of $130.54. The company has a market capitalization of $16.60 billion, a PE ratio of 15.36 and a beta of 0.95. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the business earned $2.49 earnings per share. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. Research analysts forecast that Genuine Parts will post 8.09 earnings per share for the current year.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

Institutional Trading of Genuine Parts

A number of institutional investors have recently added to or reduced their stakes in the business. Metis Global Partners LLC grew its holdings in Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after acquiring an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC raised its holdings in Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after purchasing an additional 91 shares in the last quarter. Marco Investment Management LLC lifted its holdings in shares of Genuine Parts by 1.2% in the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 91 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of Genuine Parts by 5.9% in the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock valued at $239,000 after buying an additional 95 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in Genuine Parts by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after buying an additional 103 shares in the last quarter. 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.