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

Genuine Parts (NYSE:GPC) had its price target increased by equities research analysts at Truist Financial from $129.00 to $133.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price objective suggests a potential upside of 9.52% from the stock’s current price.

A number of other research analysts have also commented on GPC. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group decreased their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Price Performance

Genuine Parts stock traded down $0.21 during midday trading on Wednesday, hitting $121.44. The company’s stock had a trading volume of 518,944 shares, compared to its average volume of 1,579,159. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The stock’s 50-day moving average price is $118.27 and its 200-day moving average price is $127.34. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a market capitalization of $16.88 billion, a PE ratio of 15.63 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion for 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 quarter in the prior year, the company earned $2.26 EPS. Analysts anticipate that Genuine Parts will post 8.08 earnings per share for the current fiscal year.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Genuine Parts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP grew its stake in Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after purchasing an additional 4,809 shares during the period. Caprock Group LLC acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $540,000. Miramar Capital LLC grew its stake in Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after acquiring an additional 7,845 shares during the period. Verity & Verity LLC grew its stake in Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after acquiring an additional 9,199 shares during the period. Finally, Conning Inc. grew its stake in Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after acquiring an additional 19,795 shares during the period. Institutional investors and hedge funds 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.