Genuine Parts (NYSE:GPC) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Genuine Parts (NYSE:GPC) from a buy rating to a hold rating in a research report report published on Friday morning.

A number of other research analysts have also recently commented on the company. Wedbush decreased their price target on Genuine Parts from $170.00 to $145.00 and set a neutral rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group decreased their target price 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. Jefferies Financial Group lifted their price target on Genuine Parts from $150.00 to $170.00 and gave the company a hold rating in a research note on Friday, April 19th. Truist Financial cut their price target on Genuine Parts from $183.00 to $164.00 and set a buy rating on the stock in a research note on Tuesday, July 23rd. Finally, Evercore ISI cut their price objective on Genuine Parts from $150.00 to $148.00 and set an in-line rating on the stock in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has an average rating of Hold and a consensus target price of $161.14.

Genuine Parts Stock Down 2.9 %

GPC opened at $138.44 on Friday. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. 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 company has a market capitalization of $19.28 billion, a P/E ratio of 15.43 and a beta of 0.92. The stock has a fifty day moving average of $139.74 and a 200-day moving average of $146.60.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period in the prior year, the business posted $2.44 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that Genuine Parts will post 9.36 EPS for the current year.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

Several institutional investors have recently bought and sold shares of GPC. Norges Bank bought a new stake in Genuine Parts during the fourth quarter worth $215,643,000. International Assets Investment Management LLC grew its holdings in Genuine Parts by 15,175.4% during the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after buying an additional 708,388 shares in the last quarter. Stifel Financial Corp grew its holdings in Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after buying an additional 431,623 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in Genuine Parts by 3,029.9% during the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after buying an additional 368,470 shares in the last quarter. Finally, Morningstar Investment Services LLC grew its holdings in Genuine Parts by 161.2% during the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after buying an additional 357,091 shares in the last quarter. 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.