Genuine Parts (NYSE:GPC) Receives “Buy” Rating from Truist Financial

Genuine Parts (NYSE:GPC)‘s stock had its “buy” rating reaffirmed by investment analysts at Truist Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $164.00 price target on the specialty retailer’s stock. Truist Financial’s price objective points to a potential upside of 14.50% from the company’s current price.

Several other brokerages have also commented on GPC. Wedbush lowered their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI cut their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group lowered their price objective 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. UBS Group dropped their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Stock Up 0.4 %

GPC stock traded up $0.52 during trading on Wednesday, reaching $143.23. The stock had a trading volume of 149,955 shares, compared to its average volume of 992,070. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.95 billion, a price-to-earnings ratio of 15.97 and a beta of 0.92. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The company’s 50 day moving average is $138.94 and its two-hundred day moving average is $146.28.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 earnings per share. Equities research analysts forecast that Genuine Parts will post 9.36 EPS for the current year.

Hedge Funds Weigh In On Genuine Parts

A number of institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Genuine Parts by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock valued at $353,436,000 after purchasing an additional 185,913 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Genuine Parts by 27.0% in the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares in the last quarter. Wulff Hansen & CO. grew its holdings in shares of Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares during the last quarter. Norges Bank purchased a new stake in Genuine Parts during the 4th quarter valued at about $215,643,000. Finally, Dimensional Fund Advisors LP increased its stake in Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after purchasing an additional 239,858 shares during the period. Institutional investors own 78.83% of the company’s stock.

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.