Genuine Parts (NYSE:GPC) PT Raised to $170.00 at Jefferies Financial Group

Genuine Parts (NYSE:GPC) had its price target increased by analysts at Jefferies Financial Group from $150.00 to $170.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the specialty retailer’s stock. Jefferies Financial Group’s price target suggests a potential upside of 4.87% from the company’s previous close.

Several other analysts have also commented on GPC. Truist Financial increased their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Wedbush reaffirmed a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research report on Friday. Finally, Evercore ISI dropped their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $173.10.

Genuine Parts Stock Up 1.2 %

Shares of GPC stock traded up $1.87 on Friday, hitting $162.10. The stock had a trading volume of 838,710 shares, compared to its average volume of 1,023,759. The business has a 50 day moving average price of $149.92 and a 200 day moving average price of $142.22. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The company has a market cap of $22.60 billion, a PE ratio of 17.38 and a beta of 0.94. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80.

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

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at about $25,000. OFI Invest Asset Management purchased a new position in shares of Genuine Parts in the third quarter valued at approximately $25,000. Assetmark Inc. boosted its holdings in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares during the period. WD Rutherford LLC acquired a new position in shares of Genuine Parts during the first quarter worth about $26,000. Finally, Sunbelt Securities Inc. grew its holdings in Genuine Parts by 122.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 88 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.