Genuine Parts (NYSE:GPC) Price Target Cut to $138.00 by Analysts at The Goldman Sachs Group

Genuine Parts (NYSE:GPC) had its price objective lowered by equities researchers at The Goldman Sachs Group from $162.00 to $138.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 22.01% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group reduced their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Performance

NYSE GPC opened at $113.11 on Wednesday. The company has a fifty day moving average of $137.72 and a two-hundred day moving average of $142.43. The company has a market capitalization of $15.76 billion, a PE ratio of 12.61 and a beta of 0.90. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $2.49 earnings per share. As a group, analysts expect that Genuine Parts will post 9.37 earnings per share for the current year.

Institutional Investors Weigh In On Genuine Parts

Several institutional investors have recently made changes to their positions in GPC. Comerica Bank boosted its holdings in Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after buying an additional 18,657 shares in the last quarter. Mezzasalma Advisors LLC raised its holdings in Genuine Parts by 497.0% during the first quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock worth $1,865,000 after purchasing an additional 10,019 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Genuine Parts by 137.9% during the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock worth $3,560,000 after purchasing an additional 13,330 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Genuine Parts in the first quarter valued at $3,083,000. Finally, Wellington Management Group LLP increased its position in shares of Genuine Parts by 726.9% in the fourth quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after buying an additional 48,122 shares in the last quarter. 78.83% of the stock is currently 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.