Genuine Parts (NYSE:GPC) Price Target Cut to $135.00

Genuine Parts (NYSE:GPC) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $162.00 to $135.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 16.14% from the stock’s current price.

Several other brokerages have also recently issued reports on GPC. Wedbush dropped their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI upped 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. UBS Group cut their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Truist Financial restated a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. Six research 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 presently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $116.24 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The firm has a market cap of $16.19 billion, a PE ratio of 12.96 and a beta of 0.90. The firm’s 50 day simple moving average is $138.64 and its 200-day simple moving average is $142.82. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

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

Hedge Funds Weigh In On Genuine Parts

Several hedge funds have recently modified their holdings of the stock. Wulff Hansen & CO. increased its position in shares of Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after acquiring an additional 1,555,149 shares during the period. International Assets Investment Management LLC grew its stake in Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after purchasing an additional 368,470 shares during the period. Natixis raised its stake in shares of Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after purchasing an additional 279,930 shares during the last quarter. Finally, Anchor Capital Advisors LLC lifted its holdings in shares of Genuine Parts by 1,457.3% during the first quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock worth $41,825,000 after purchasing an additional 252,626 shares during the period. Institutional investors and hedge funds 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.