Genuine Parts (NYSE:GPC) Given New $125.00 Price Target at Evercore ISI

Genuine Parts (NYSE:GPC) had its price objective lowered by Evercore ISI from $128.00 to $125.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s price objective indicates a potential upside of 1.30% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Truist Financial cut their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group cut their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, Wedbush decreased their price objective 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Price Performance

GPC opened at $123.40 on Wednesday. The company has a fifty day moving average price of $118.28 and a two-hundred day moving average price of $127.27. The firm has a market capitalization of $17.16 billion, a PE ratio of 19.07 and a beta of 0.94. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 24.99% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the firm earned $2.26 earnings per share. As a group, analysts anticipate that Genuine Parts will post 7.98 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Genuine Parts

Several institutional investors and hedge funds have recently modified their holdings of GPC. Millstone Evans Group LLC bought a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new stake in Genuine Parts during the third quarter worth about $26,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $28,000. Finally, Compass Planning Associates Inc acquired a new stake in Genuine Parts in the fourth quarter valued at about $29,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.