Genuine Parts’ (GPC) Sell Rating Reiterated at The Goldman Sachs Group

Genuine Parts (NYSE:GPC)‘s stock had its “sell” rating reaffirmed by research analysts at The Goldman Sachs Group in a report issued on Tuesday,Benzinga reports. They currently have a $114.00 price target on the specialty retailer’s stock, down from their previous price target of $133.00. The Goldman Sachs Group’s price objective would indicate a potential downside of 4.42% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Evercore ISI lowered their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Truist Financial raised their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $134.63.

Genuine Parts Price Performance

Shares of GPC opened at $119.27 on Tuesday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a market capitalization of $16.55 billion, a PE ratio of 18.43 and a beta of 0.93. The company’s 50-day moving average is $121.14 and its 200-day moving average is $123.88. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the firm earned $2.26 earnings per share. Equities analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quantinno Capital Management LP boosted its holdings in Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after purchasing an additional 4,809 shares during the period. Caprock Group LLC bought a new stake in Genuine Parts during the fourth quarter valued at $540,000. Verity & Verity LLC grew its position in Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after buying an additional 9,199 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Genuine Parts in the 4th quarter worth about $21,840,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Genuine Parts by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock valued at $42,417,000 after acquiring an additional 56,776 shares during the last quarter. 78.83% of the stock is owned by 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.