Genuine Parts (NYSE:GPC) PT Raised to $183.00 at Truist Financial

Genuine Parts (NYSE:GPC) had its target price boosted by analysts at Truist Financial from $167.00 to $183.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price target points to a potential upside of 12.69% from the company’s previous close.

Other analysts also recently issued reports about the stock. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush reaffirmed a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. Finally, Evercore ISI dropped their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $173.10.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $162.39 on Friday. The company’s fifty day moving average price is $150.30 and its 200 day moving average price is $142.35. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The company has a market capitalization of $22.64 billion, a PE ratio of 18.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the firm posted $2.14 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts predict that Genuine Parts will post 9.85 earnings per share for the current year.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’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 transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently modified their holdings of the business. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Genuine Parts in the third quarter worth about $25,000. OFI Invest Asset Management purchased a new position in Genuine Parts during the third quarter worth about $25,000. Assetmark Inc. raised its stake in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the period. WD Rutherford LLC purchased a new position in Genuine Parts during the first quarter worth about $26,000. Finally, Sunbelt Securities Inc. raised its stake in Genuine Parts by 122.2% during the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 88 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.