Genuine Parts (NYSE:GPC) PT Raised to $160.00 at Evercore ISI

Genuine Parts (NYSE:GPC) had its target price lifted by investment analysts at Evercore ISI from $155.00 to $160.00 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 38.19% from the company’s previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group cut their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Wedbush cut their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group cut their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial reiterated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. increased their target price on Genuine Parts from $157.00 to $162.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $159.00.

Genuine Parts Stock Down 19.1 %

Shares of Genuine Parts stock traded down $27.34 during midday trading on Tuesday, hitting $115.78. The company had a trading volume of 2,751,301 shares, compared to its average volume of 966,523. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The stock has a market capitalization of $16.13 billion, a P/E ratio of 12.91 and a beta of 0.90. The company has a 50 day moving average of $138.97 and a 200 day moving average of $143.12. Genuine Parts has a 52-week low of $115.77 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 EPS. On average, equities analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently modified their holdings of GPC. WD Rutherford LLC bought a new position in shares of Genuine Parts during the 1st quarter valued at $26,000. Stephens Consulting LLC raised its holdings in Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the period. Thompson Investment Management Inc. bought a new position in Genuine Parts in the 1st quarter worth $35,000. Manchester Capital Management LLC raised its holdings in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the period. Finally, Triad Wealth Partners LLC bought a new position in Genuine Parts in the 2nd quarter worth $40,000. 78.83% of the stock is owned by institutional investors.

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.