Genuine Parts (NYSE:GPC) Price Target Raised to $170.00

Genuine Parts (NYSE:GPC) had its price target upped by equities researchers at Jefferies Financial Group from $150.00 to $170.00 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the specialty retailer’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 4.87% from the stock’s previous close.

GPC has been the topic of several other reports. Evercore ISI dropped their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Truist Financial upped their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wedbush restated a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $173.10.

Genuine Parts Stock Performance

Shares of NYSE GPC traded up $1.87 during midday trading on Friday, reaching $162.10. 838,710 shares of the stock were exchanged, compared to its average volume of 1,023,759. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The firm has a 50-day simple moving average of $149.92 and a two-hundred day simple moving average of $142.22. The firm has a market cap of $22.60 billion, a price-to-earnings ratio of 17.38 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the company posted $2.14 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts anticipate that Genuine Parts will post 9.66 EPS for the current fiscal year.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GPC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Genuine Parts by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock worth $2,401,000 after purchasing an additional 1,180 shares during the period. Cibc World Market Inc. increased its holdings in Genuine Parts by 14.8% in the first quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after buying an additional 354 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Genuine Parts by 9.4% in the 1st quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after acquiring an additional 4,372 shares during the last quarter. Aviva PLC raised its holdings in Genuine Parts by 63.1% during the first quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock worth $9,949,000 after purchasing an additional 30,545 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Genuine Parts by 195.1% during the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock worth $14,408,000 after acquiring an additional 75,591 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.