Q4 2022 EPS Estimates for Genuine Parts Cut by Jefferies Financial Group (NYSE:GPC)

Genuine Parts (NYSE:GPCGet Rating) – Equities researchers at Jefferies Financial Group lowered their Q4 2022 earnings estimates for Genuine Parts in a research note issued to investors on Wednesday, July 27th. Jefferies Financial Group analyst B. Jordan now anticipates that the specialty retailer will earn $1.93 per share for the quarter, down from their previous forecast of $1.98. The consensus estimate for Genuine Parts’ current full-year earnings is $7.84 per share. Jefferies Financial Group also issued estimates for Genuine Parts’ Q3 2023 earnings at $2.18 EPS.

Other equities research analysts have also issued reports about the stock. Wedbush increased their target price on shares of Genuine Parts from $140.00 to $150.00 in a report on Thursday. Evercore ISI cut their target price on shares of Genuine Parts to $135.00 in a report on Thursday, June 9th. Finally, Bank of America upgraded shares of Genuine Parts from an “underperform” rating to a “neutral” rating and set a $133.00 target price on the stock in a report on Tuesday, May 10th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.20.

Genuine Parts Trading Up 2.2 %

GPC opened at $152.87 on Monday. The firm’s fifty day moving average is $136.89 and its two-hundred day moving average is $132.16. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 1.16. The firm has a market cap of $21.65 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 3.31 and a beta of 0.95. Genuine Parts has a twelve month low of $115.63 and a twelve month high of $153.65.

Genuine Parts (NYSE:GPCGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. Genuine Parts had a net margin of 4.71% and a return on equity of 30.84%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the firm earned $1.74 earnings per share. The business’s revenue for the quarter was up 17.1% on a year-over-year basis.

Institutional Investors Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gradient Investments LLC increased its stake in Genuine Parts by 65.8% in the 2nd quarter. Gradient Investments LLC now owns 189 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 75 shares during the last quarter. Charter Oak Capital Management LLC bought a new position in shares of Genuine Parts in the 2nd quarter valued at about $25,000. JNBA Financial Advisors grew its position in shares of Genuine Parts by 103.8% in the 4th quarter. JNBA Financial Advisors now owns 214 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 109 shares during the period. FSB Premier Wealth Management Inc. bought a new position in shares of Genuine Parts in the 4th quarter valued at about $31,000. Finally, Missouri Trust & Investment Co bought a new position in shares of Genuine Parts in the 4th quarter valued at about $32,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

About Genuine Parts

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Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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