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

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

Several other analysts also recently weighed in on the company. 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 note on Wednesday, July 3rd. 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. 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. Evercore ISI decreased their target price 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, Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $134.39 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The firm has a market cap of $18.72 billion, a price-to-earnings ratio of 14.98 and a beta of 0.92. The business’s 50-day simple moving average is $139.14 and its 200-day simple moving average is $146.10. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45.

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

Hedge Funds Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently modified their holdings of the stock. WD Rutherford LLC bought a new position in shares of Genuine Parts during the 1st quarter worth approximately $26,000. Assetmark Inc. raised its position in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares during the last quarter. Union Savings Bank raised its position in Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. bought a new position in Genuine Parts in the 1st quarter valued at $35,000. Finally, Stephens Consulting LLC raised its position in Genuine Parts by 740.7% in 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. 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.