Genuine Parts (NYSE:GPC) Price Target Raised to $183.00 at Truist Financial

Genuine Parts (NYSE:GPC) had its price target boosted by investment analysts at Truist Financial from $167.00 to $183.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price objective points to a potential upside of 13.33% from the stock’s previous close.

A number of other brokerages have also recently issued reports on GPC. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday. Wedbush reiterated a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a research note on Friday, February 16th. Finally, StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and a consensus target price of $173.44.

Genuine Parts Trading Up 0.8 %

NYSE GPC traded up $1.25 on Friday, hitting $161.48. The company’s stock had a trading volume of 193,203 shares, compared to its average volume of 1,015,288. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The company’s 50-day simple moving average is $149.92 and its 200 day simple moving average is $142.22. The firm has a market cap of $22.51 billion, a P/E ratio of 17.31 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 EPS. Research analysts predict that Genuine Parts will post 9.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Genuine Parts

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Genuine Parts by 2.9% during the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after purchasing an additional 481,039 shares in the last quarter. State Street Corp lifted its position in shares of Genuine Parts by 2.4% in the first quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock valued at $1,209,476,000 after acquiring an additional 171,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Genuine Parts by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock valued at $612,531,000 after acquiring an additional 185,529 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Genuine Parts by 1.3% in the first quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock valued at $497,089,000 after acquiring an additional 36,774 shares in the last quarter. Finally, Imprint Wealth LLC lifted its position in shares of Genuine Parts by 16,507.5% in the second quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock valued at $261,119,000 after acquiring an additional 2,595,471 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.