Genuine Parts (NYSE:GPC) Lowered to Hold at StockNews.com

Genuine Parts (NYSE:GPC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other research firms have also issued reports on GPC. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. The Goldman Sachs Group reduced their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Wedbush cut their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Truist Financial reissued a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. Finally, Evercore ISI cut their target price on shares of 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

NYSE:GPC traded up $0.12 during mid-day trading on Friday, hitting $136.69. 649,623 shares of the company’s stock traded hands, compared to its average volume of 965,835. The firm has a 50 day moving average of $139.70 and a two-hundred day moving average of $144.53. The firm has a market capitalization of $19.04 billion, a price-to-earnings ratio of 15.24 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45.

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

Institutional Investors Weigh In On Genuine Parts

Institutional investors have recently made changes to their positions in the company. WD Rutherford LLC purchased a new stake in Genuine Parts in the 1st quarter worth approximately $26,000. Union Savings Bank raised its stake in shares of Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in Genuine Parts during the first quarter valued at about $35,000. Stephens Consulting LLC lifted 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 valued at $35,000 after purchasing an additional 200 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its stake in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. 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.