Genuine Parts (NYSE:GPC) PT Raised to $160.00 at Evercore ISI

Genuine Parts (NYSE:GPC) had its target price hoisted by Evercore ISI from $155.00 to $160.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s target price suggests a potential upside of 38.19% from the company’s current price.

Several other brokerages have also issued reports on GPC. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Wedbush dropped their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Genuine Parts from $157.00 to $162.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group lowered their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $159.00.

Genuine Parts Price Performance

Genuine Parts stock traded down $27.34 during midday trading on Tuesday, hitting $115.78. 2,751,301 shares of the company’s stock were exchanged, compared to its average volume of 966,523. Genuine Parts has a 52-week low of $115.77 and a 52-week high of $164.45. The stock has a 50-day moving average price of $138.97 and a two-hundred day moving average price of $143.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The company has a market cap of $16.13 billion, a P/E ratio of 12.91 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the firm earned $2.44 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. WD Rutherford LLC purchased a new position in shares of Genuine Parts during the 1st quarter worth approximately $26,000. Thompson Investment Management Inc. purchased a new position in shares of Genuine Parts during the 1st quarter worth approximately $35,000. Stephens Consulting LLC grew its holdings in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares during the period. Manchester Capital Management LLC grew its holdings in shares of Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in shares of Genuine Parts during the 2nd quarter worth approximately $40,000. Hedge funds and other 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.