Genuine Parts (NYSE:GPC) Price Target Cut to $162.00 by Analysts at The Goldman Sachs Group

Genuine Parts (NYSE:GPC) had its price objective decreased by The Goldman Sachs Group from $166.00 to $162.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 18.72% from the company’s current price.

A number of other analysts also recently weighed in on GPC. UBS Group decreased their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Wednesday. Wedbush reissued a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Evercore ISI decreased their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group lifted their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $164.71.

Genuine Parts Stock Down 0.5 %

Shares of GPC traded down $0.75 during mid-day trading on Wednesday, reaching $136.46. 414,096 shares of the stock traded hands, compared to its average volume of 1,020,001. The firm has a market cap of $19.01 billion, a price-to-earnings ratio of 15.21 and a beta of 0.92. The stock has a fifty day simple moving average of $141.22 and a 200 day simple moving average of $146.39. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 EPS. Sell-side analysts expect that Genuine Parts will post 9.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC raised its position in Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares in the last quarter. North Star Investment Management Corp. raised its position in Genuine Parts by 8.5% in the first 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 in the last quarter. CHICAGO TRUST Co NA raised its position in Genuine Parts by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after acquiring an additional 71 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after acquiring an additional 75 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in Genuine Parts by 2.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after acquiring an additional 76 shares in the last quarter. 78.83% of the stock is currently owned by 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.