The Goldman Sachs Group Lowers Genuine Parts (NYSE:GPC) Price Target to $138.00

Genuine Parts (NYSE:GPC) had its price target dropped by The Goldman Sachs Group from $162.00 to $138.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 22.01% from the company’s previous close.

A number of other equities research analysts also recently commented on GPC. Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Wedbush lowered their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, UBS Group cut their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Down 2.7 %

GPC stock opened at $113.11 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $137.72 and a two-hundred day moving average of $142.43. The company has a market cap of $15.76 billion, a price-to-earnings ratio of 12.61 and a beta of 0.90. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last issued 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 return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the firm earned $2.49 earnings per share. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Institutional Trading of Genuine Parts

Several hedge funds have recently modified their holdings of GPC. WD Rutherford LLC acquired a new stake in Genuine Parts in the 1st quarter valued at about $26,000. Stephens Consulting LLC raised its holdings 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 acquiring an additional 200 shares in the last quarter. Concord Wealth Partners lifted its stake in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the last quarter. Manchester Capital Management LLC grew its holdings in 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 in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Genuine Parts in the 2nd quarter valued at approximately $40,000. 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.