Genuine Parts (NYSE:GPC) Price Target Cut to $129.00 by Analysts at Truist Financial

Genuine Parts (NYSE:GPC) had its price objective decreased by investment analysts at Truist Financial from $164.00 to $129.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price target indicates a potential upside of 11.22% from the stock’s previous close.

GPC has been the topic of several other reports. Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday. Wedbush dropped their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group dropped their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Genuine Parts has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Performance

NYSE:GPC traded up $2.88 during midday trading on Wednesday, hitting $115.99. The company’s stock had a trading volume of 1,514,390 shares, compared to its average volume of 989,465. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The firm has a market cap of $16.16 billion, a P/E ratio of 12.93 and a beta of 0.90. The firm’s 50 day moving average is $138.64 and its 200-day moving average is $142.82.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.49 EPS. Equities analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Institutional Trading of Genuine Parts

A number of hedge funds and other institutional investors have recently modified their holdings of GPC. Manchester Capital Management LLC grew its stake in shares of Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 66 shares during the period. North Star Investment Management Corp. boosted its stake in Genuine Parts by 8.5% during the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after buying an additional 70 shares during the period. First Citizens Bank & Trust Co. increased its holdings in Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after purchasing an additional 75 shares during the last quarter. HBK Sorce Advisory LLC grew its stake in shares of Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after buying an additional 80 shares in the last quarter. Finally, Dover Advisors LLC raised its holdings in shares of Genuine Parts by 5.1% in the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after buying an additional 85 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.