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

Genuine Parts (NYSE:GPC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other equities research analysts have also issued reports on the stock. Wedbush dropped their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. UBS Group dropped their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Truist Financial reissued a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Evercore ISI dropped their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

NYSE:GPC opened at $136.70 on Friday. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The stock has a market capitalization of $19.04 billion, a PE ratio of 15.24 and a beta of 0.90. The company has a fifty day moving average of $139.60 and a two-hundred day moving average of $144.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last released its earnings results 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). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the company earned $2.44 EPS. Genuine Parts’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. WD Rutherford LLC purchased a new position in Genuine Parts during the first quarter worth about $26,000. Union Savings Bank lifted its position in shares of Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Genuine Parts during the first quarter worth about $35,000. Stephens Consulting LLC lifted its position in shares of Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Genuine Parts by 138.7% during the fourth quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. 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.