Redburn Atlantic Upgrades Genuine Parts (NYSE:GPC) to “Hold”

Genuine Parts (NYSE:GPC) was upgraded by analysts at Redburn Atlantic to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on GPC. Truist Financial decreased their target price on 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 research report on Wednesday, October 16th. The Goldman Sachs Group reduced their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group lowered their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased 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, October 22nd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Trading Up 0.3 %

NYSE:GPC opened at $122.70 on Monday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a market cap of $17.06 billion, a P/E ratio of 15.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The stock has a 50-day simple moving average of $131.64 and a 200-day simple moving average of $139.05.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (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 during the quarter, compared to analyst estimates of $5.94 billion. During the same period last year, the company earned $2.49 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently added to or reduced their stakes in GPC. First Citizens Bank & Trust Co. increased its holdings in Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after buying an additional 75 shares during the period. HBK Sorce Advisory LLC boosted its position in shares of Genuine Parts by 1.8% during the 1st quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after acquiring an additional 80 shares in the last quarter. Dover Advisors LLC increased its stake in Genuine Parts by 5.1% in the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after acquiring an additional 85 shares during the last quarter. Metis Global Partners LLC raised its position in Genuine Parts by 1.9% during the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after purchasing an additional 85 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. boosted its holdings in shares of Genuine Parts by 1.3% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Company Profile

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.