Argus Issues Pessimistic Forecast for Genuine Parts (NYSE:GPC) Stock Price

Genuine Parts (NYSE:GPC) had its price target lowered by investment analysts at Argus from $156.00 to $150.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Argus’ price objective suggests a potential upside of 19.32% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $165.00 price target on shares of Genuine Parts in a research report on Wednesday, July 22nd. Truist Financial increased their price target on shares of Genuine Parts from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Evercore reaffirmed an “outperform” rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

Genuine Parts Stock Performance

Shares of GPC stock traded up $0.93 during trading on Thursday, reaching $125.71. 181,920 shares of the company’s stock were exchanged, compared to its average volume of 1,553,025. The firm’s fifty day moving average price is $131.70 and its 200-day moving average price is $118.96. Genuine Parts has a twelve month low of $90.78 and a twelve month high of $151.57. The stock has a market capitalization of $17.33 billion, a PE ratio of 502.52, a PEG ratio of 2.30 and a beta of 0.67. The company has a quick ratio of 0.50, a current ratio of 1.22 and a debt-to-equity ratio of 0.96.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.03. The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.49 billion. Genuine Parts had a net margin of 0.12% and a return on equity of 23.00%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.98 earnings per share. As a group, sell-side analysts anticipate that Genuine Parts will post 7.69 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in shares of Genuine Parts in the third quarter valued at $133,000. E. Ohman J or Asset Management AB boosted its stake in shares of Genuine Parts by 18.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 5,220 shares of the specialty retailer’s stock worth $656,000 after buying an additional 800 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. grew its stake in Genuine Parts by 4.6% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 130,625 shares of the specialty retailer’s stock valued at $16,425,000 after purchasing an additional 5,722 shares during the period. Axxcess Wealth Management LLC grew its position in Genuine Parts by 121.3% during the third quarter. Axxcess Wealth Management LLC now owns 4,085 shares of the specialty retailer’s stock valued at $514,000 after buying an additional 2,239 shares during the period. Finally, Albion Financial Group UT grew its position in shares of Genuine Parts by 1.0% during the 3rd quarter. Albion Financial Group UT now owns 19,993 shares of the specialty retailer’s stock valued at $2,514,000 after acquiring an additional 204 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.