Genuine Parts (NYSE:GPC) Price Target Cut to $155.00 by Analysts at Evercore ISI

Genuine Parts (NYSE:GPC) had its price objective cut by analysts at Evercore ISI from $160.00 to $155.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s target price points to a potential upside of 7.59% from the stock’s current price.

GPC has been the subject of several other research reports. Wedbush reiterated a “neutral” rating and issued a $140.00 price target on shares of Genuine Parts in a research report on Friday, February 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $167.00 price target on shares of Genuine Parts in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and an average target price of $168.33.

Genuine Parts Trading Down 0.3 %

Shares of Genuine Parts stock opened at $144.07 on Tuesday. The firm has a market cap of $20.09 billion, a price-to-earnings ratio of 15.44 and a beta of 0.94. The business has a 50-day moving average price of $149.56 and a 200-day moving average price of $142.09. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share. Equities research analysts anticipate that Genuine Parts will post 9.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Genuine Parts by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock valued at $2,401,000 after buying an additional 1,180 shares during the period. Cibc World Market Inc. boosted its position in shares of Genuine Parts by 14.8% during the 1st quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock worth $345,000 after purchasing an additional 354 shares during the period. Sei Investments Co. boosted its position in shares of Genuine Parts by 9.4% during the 1st quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock worth $6,448,000 after purchasing an additional 4,372 shares during the period. Aviva PLC boosted its position in shares of Genuine Parts by 63.1% during the 1st quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock worth $9,949,000 after purchasing an additional 30,545 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Genuine Parts by 195.1% during the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock worth $14,408,000 after purchasing an additional 75,591 shares during the period. Institutional investors and hedge funds 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.