Genuine Parts (NYSE:GPC) Price Target Raised to $162.00

Genuine Parts (NYSE:GPC) had its price objective boosted by analysts at JPMorgan Chase & Co. from $157.00 to $162.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 12.78% from the stock’s current price.

GPC has been the subject of several other research reports. Truist Financial reissued a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. Wedbush decreased their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group dropped their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $157.29.

Genuine Parts Trading Up 0.3 %

NYSE:GPC opened at $143.64 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The firm has a market capitalization of $20.01 billion, a price-to-earnings ratio of 16.01 and a beta of 0.90. The business’s 50-day moving average price is $138.85 and its two-hundred day moving average price is $143.34.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 earnings per share. On average, equities 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 bought and sold shares of GPC. Virtu Financial LLC bought a new position in Genuine Parts in the fourth quarter valued at $494,000. Wellington Management Group LLP boosted its stake in shares of Genuine Parts by 726.9% during the 4th quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock worth $7,582,000 after buying an additional 48,122 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Genuine Parts by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 2,355 shares of the specialty retailer’s stock valued at $326,000 after acquiring an additional 103 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at about $276,000. Finally, CWM LLC raised its holdings in Genuine Parts by 30.2% during the first quarter. CWM LLC now owns 5,763 shares of the specialty retailer’s stock worth $893,000 after acquiring an additional 1,337 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

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.