Genuine Parts (NYSE:GPC) PT Lowered to $150.00

Genuine Parts (NYSE:GPC) had its price objective reduced by equities researchers at UBS Group from $165.00 to $150.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. UBS Group’s price target would indicate a potential upside of 10.31% from the stock’s previous close.

GPC has been the subject of several other reports. Wedbush reiterated a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Evercore ISI cut their target price on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Tuesday. Jefferies Financial Group increased their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Finally, Truist Financial boosted their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $167.75.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $135.98 on Wednesday. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 15.16 and a beta of 0.92. Genuine Parts has a one year low of $126.35 and a one year high of $170.57. The business has a fifty day simple moving average of $147.42 and a 200 day simple moving average of $146.53. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.14 earnings per share. Sell-side analysts expect that Genuine Parts will post 9.92 EPS for the current year.

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genuine Parts

Large investors have recently made changes to their positions in the stock. First Hawaiian Bank increased its holdings in Genuine Parts by 6.6% during the 2nd quarter. First Hawaiian Bank now owns 7,168 shares of the specialty retailer’s stock worth $991,000 after purchasing an additional 442 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Genuine Parts by 43.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,917 shares of the specialty retailer’s stock worth $265,000 after acquiring an additional 584 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in shares of Genuine Parts by 1.4% in the second quarter. Transcend Capital Advisors LLC now owns 9,144 shares of the specialty retailer’s stock worth $1,265,000 after purchasing an additional 125 shares in the last quarter. Old Port Advisors grew its position in Genuine Parts by 10.4% in the first quarter. Old Port Advisors now owns 12,342 shares of the specialty retailer’s stock valued at $1,912,000 after purchasing an additional 1,163 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in Genuine Parts during the 1st quarter worth about $996,000. 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.