Evercore ISI Lowers Genuine Parts (NYSE:GPC) Price Target to $125.00

Genuine Parts (NYSE:GPC) had its price objective reduced by research analysts at Evercore ISI from $128.00 to $125.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s target price indicates a potential upside of 2.97% from the company’s previous close.

Several other analysts also recently weighed in on GPC. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $137.13.

Genuine Parts Trading Down 0.2 %

Shares of NYSE:GPC traded down $0.25 on Wednesday, hitting $121.40. 373,645 shares of the company’s stock were exchanged, compared to its average volume of 1,575,136. The stock has a market capitalization of $16.88 billion, a price-to-earnings ratio of 15.63 and a beta of 0.94. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business’s 50 day simple moving average is $118.27 and its two-hundred day simple moving average is $127.34.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company posted $2.26 earnings per share. Analysts anticipate that Genuine Parts will post 8.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GPC. Blue Trust Inc. increased its holdings in Genuine Parts by 65.4% in the 3rd quarter. Blue Trust Inc. now owns 3,909 shares of the specialty retailer’s stock worth $541,000 after buying an additional 1,546 shares during the period. Foundations Investment Advisors LLC raised its holdings in shares of Genuine Parts by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 5,901 shares of the specialty retailer’s stock worth $824,000 after purchasing an additional 280 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Genuine Parts by 17.3% in the third quarter. Sequoia Financial Advisors LLC now owns 11,793 shares of the specialty retailer’s stock valued at $1,647,000 after purchasing an additional 1,737 shares during the last quarter. Eastern Bank grew its position in Genuine Parts by 1,062.6% during the 3rd quarter. Eastern Bank now owns 17,579 shares of the specialty retailer’s stock worth $2,455,000 after purchasing an additional 16,067 shares during the period. Finally, Westhampton Capital LLC raised its stake in shares of Genuine Parts by 8.3% during the 3rd quarter. Westhampton Capital LLC now owns 6,490 shares of the specialty retailer’s stock valued at $907,000 after buying an additional 500 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

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.