Evercore ISI Forecasts Strong Price Appreciation for Genuine Parts (NYSE:GPC) Stock

Genuine Parts (NYSE:GPC) had its price target boosted by equities research analysts at Evercore ISI from $125.00 to $128.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s price objective would indicate a potential upside of 6.52% from the company’s previous close.

A number of other analysts also recently issued reports on GPC. The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday. 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 target on the stock. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $135.00.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $120.17 on Tuesday. The company has a fifty day moving average price of $121.16 and a 200 day moving average price of $123.72. The firm has a market cap of $16.68 billion, a PE ratio of 18.57 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.71 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. Research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Institutional Trading of Genuine Parts

A number of hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Genuine Parts during the 4th quarter valued at $206,645,000. Junto Capital Management LP acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $94,868,000. Equity Investment Corp bought a new stake in shares of Genuine Parts during the 4th quarter worth about $84,128,000. Alyeska Investment Group L.P. grew its stake in Genuine Parts by 204.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock valued at $92,129,000 after buying an additional 530,057 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock valued at $380,898,000 after acquiring an additional 518,851 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

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.