Truist Financial Boosts Genuine Parts (NYSE:GPC) Price Target to $133.00

Genuine Parts (NYSE:GPC) had its target price raised by investment analysts at Truist Financial from $129.00 to $133.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price target points to a potential upside of 9.52% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI decreased their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. UBS Group decreased their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Trading Down 0.2 %

Shares of NYSE:GPC traded down $0.21 during midday trading on Wednesday, reaching $121.44. 518,944 shares of the company’s stock were exchanged, compared to its average volume of 1,579,159. The firm’s 50 day simple moving average is $118.27 and its two-hundred day simple moving average is $127.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a market cap of $16.88 billion, a price-to-earnings ratio of 15.63 and a beta of 0.94. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. During the same period in the previous year, the company posted $2.26 EPS. As a group, sell-side analysts forecast that Genuine Parts will post 8.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Genuine Parts

Hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the third quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new position in shares of Genuine Parts during the fourth quarter valued at $25,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts in the third quarter worth about $31,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts in the fourth quarter worth about $28,000. Finally, First Command Advisory Services Inc. acquired a new stake in Genuine Parts in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.