Truist Financial Trims Genuine Parts (NYSE:GPC) Target Price to $164.00

Genuine Parts (NYSE:GPC) had its price objective lowered by equities research analysts at Truist Financial from $183.00 to $164.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s target price points to a potential upside of 20.05% from the company’s current price.

A number of other equities analysts have also recently issued reports on GPC. Evercore ISI decreased their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Wedbush reissued a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Jefferies Financial Group boosted their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $164.29.

Genuine Parts Trading Down 1.3 %

Shares of NYSE GPC traded down $1.76 during midday trading on Tuesday, reaching $136.61. The company had a trading volume of 1,047,010 shares, compared to its average volume of 1,016,730. The firm’s fifty day moving average price is $141.59 and its 200-day moving average price is $146.38. 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 has a one year low of $126.35 and a one year high of $164.45. The stock has a market cap of $19.03 billion, a PE ratio of 15.23 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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 net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period last year, the company posted $2.44 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that Genuine Parts will post 9.86 earnings per share for the current year.

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Genuine Parts during the 4th quarter valued at $215,643,000. International Assets Investment Management LLC lifted its holdings in Genuine Parts by 15,175.4% in the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after purchasing an additional 708,388 shares in the last quarter. Stifel Financial Corp grew its holdings in Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of 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 acquiring an additional 368,470 shares during the last quarter. Finally, Morningstar Investment Services LLC grew its stake 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 valued at $80,066,000 after acquiring 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.