Genuine Parts (NYSE:GPC) Upgraded at StockNews.com

Genuine Parts (NYSE:GPC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Other equities research analysts have also recently issued research reports about the company. Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday. Wedbush decreased their target price 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. The Goldman Sachs Group decreased 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. Evercore ISI reduced their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. Finally, UBS Group reduced their price objective 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Price Performance

Genuine Parts stock opened at $143.25 on Thursday. 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 company has a market capitalization of $19.95 billion, a PE ratio of 15.97 and a beta of 0.92. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The stock has a 50-day moving average price of $139.05 and a two-hundred day moving average price of $146.22.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the business earned $2.44 earnings per share. Genuine Parts’s revenue was up .8% compared to the same quarter last year. Analysts expect that Genuine Parts will post 9.36 EPS for the current year.

Institutional Trading of Genuine Parts

Hedge funds have recently bought and sold shares of the business. WD Rutherford LLC bought a new stake in Genuine Parts during the first quarter worth $26,000. Assetmark Inc. raised its stake in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares during the period. Union Savings Bank raised its stake in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 100 shares during the period. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts in the first quarter valued at $35,000. Finally, Stephens Consulting LLC raised its stake in shares of 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 buying an additional 200 shares during the period. 78.83% of the stock is currently owned by institutional investors.

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.