UBS Group Lowers Genuine Parts (NYSE:GPC) Price Target to $125.00

Genuine Parts (NYSE:GPC) had its target price decreased by equities research analysts at UBS Group from $145.00 to $125.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. UBS Group’s target price points to a potential upside of 10.51% from the company’s previous close.

A number of other equities analysts have also recently issued reports on GPC. Truist Financial restated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. Evercore ISI raised their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Down 2.7 %

GPC stock opened at $113.11 on Wednesday. The business’s 50-day simple moving average is $137.72 and its 200 day simple moving average is $142.43. 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 cap of $15.76 billion, a PE ratio of 12.61 and a beta of 0.90. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion for 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%. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.49 EPS. On average, research analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Institutional Investors Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently bought and sold shares of the business. Manchester Capital Management LLC grew its holdings in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the last quarter. North Star Investment Management Corp. grew its holdings in Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 70 shares during the last quarter. First Citizens Bank & Trust Co. increased its position 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 acquiring an additional 75 shares in the last quarter. HBK Sorce Advisory LLC raised 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 worth $689,000 after acquiring an additional 80 shares during the last quarter. Finally, Dover Advisors LLC lifted its position in shares of Genuine Parts by 5.1% during the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after purchasing an additional 85 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

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.