JPMorgan Chase & Co. Trims Genuine Parts (NYSE:GPC) Target Price to $135.00

Genuine Parts (NYSE:GPC) had its price objective cut by research analysts at JPMorgan Chase & Co. from $162.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.35% from the company’s current price.

Several other brokerages have also issued reports on GPC. The Goldman Sachs Group lowered their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Wedbush dropped their target price 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. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group lowered their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $155.14.

Genuine Parts Stock Performance

NYSE:GPC traded down $30.01 during trading on Tuesday, reaching $113.11. The company’s stock had a trading volume of 6,694,186 shares, compared to its average volume of 987,293. The firm has a market cap of $15.76 billion, a price-to-earnings ratio of 12.61 and a beta of 0.90. Genuine Parts has a 12 month low of $112.74 and a 12 month 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 firm has a 50 day moving average of $139.12 and a 200-day moving average of $143.08.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 EPS. Research analysts expect that Genuine Parts will post 9.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPC. Manchester Capital Management LLC grew its holdings in shares of Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after acquiring an additional 70 shares during the period. First Citizens Bank & Trust Co. grew its position in Genuine Parts by 4.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after acquiring an additional 75 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in Genuine Parts by 1.8% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after purchasing an additional 80 shares during the period. Finally, Dover Advisors LLC lifted its position in Genuine Parts by 5.1% in the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after purchasing an additional 85 shares during the last quarter. 78.83% of the stock is currently 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.