Genuine Parts (NYSE:GPC) Stock Rating Lowered by StockNews.com

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

A number of other brokerages also recently issued reports on GPC. Wedbush lowered their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI dropped their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. Finally, UBS Group dropped their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Performance

NYSE GPC opened at $140.41 on Wednesday. The firm has a market capitalization of $19.56 billion, a P/E ratio of 15.65 and a beta of 0.90. The stock has a 50-day simple moving average of $138.63 and a two-hundred day simple moving average of $143.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $6.03 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, equities analysts forecast that Genuine Parts will post 9.37 earnings per share for the current year.

Institutional Trading of Genuine Parts

A number of institutional investors have recently made changes to their positions in the company. Wulff Hansen & CO. raised its stake in Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after buying an additional 239,858 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Genuine Parts by 29.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after buying an additional 223,712 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Genuine Parts by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock worth $75,326,000 after acquiring an additional 13,753 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its position in Genuine Parts by 49.2% during the second quarter. Sugarloaf Wealth Management LLC now owns 467,048 shares of the specialty retailer’s stock worth $673,000 after acquiring an additional 153,981 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

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.