Evercore ISI Issues Positive Forecast for Genuine Parts (NYSE:GPC) Stock Price

Key Points

• Evercore ISI has raised its price target for Genuine Parts from $145.00 to $148.00, indicating a potential upside of 5.61% based on the current stock price.
• Multiple analysts have issued positive ratings for Genuine Parts, with target price increases from firms such as UBS Group, Loop Capital, and JPMorgan Chase, reflecting strong investor confidence.
• Genuine Parts reported earnings of $2.10 per share, exceeding estimates, and showed a revenue increase of 3.4% year-over-year to $6.16 billion.

Genuine Parts (NYSE:GPC - Get Free Report) had its price target boosted by investment analysts at Evercore ISI from $145.00 to $148.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the specialty retailer's stock. Evercore ISI's price objective points to a potential upside of 5.61% from the stock's current price.

A number of other equities research analysts have also issued reports on the company. UBS Group upped their target price on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Loop Capital upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Truist Financial upped their target price on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $137.86.

Genuine Parts Price Performance

GPC stock traded up $0.89 on Tuesday, reaching $140.14. The company had a trading volume of 38,229 shares, compared to its average volume of 1,382,338. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $144.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The company's fifty day moving average is $128.79 and its 200 day moving average is $123.68. The company has a market cap of $19.49 billion, a P/E ratio of 24.13 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the prior year, the company earned $2.44 EPS. Genuine Parts's revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Institutional Trading of Genuine Parts

A number of institutional investors and hedge funds have recently made changes to their positions in GPC. Rossby Financial LCC acquired a new stake in shares of Genuine Parts during the 1st quarter worth $25,000. Olde Wealth Management LLC acquired a new stake in shares of Genuine Parts during the 1st quarter worth $27,000. North Capital Inc. acquired a new stake in shares of Genuine Parts during the 1st quarter worth $28,000. Golden State Wealth Management LLC boosted its position in Genuine Parts by 8,833.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer's stock worth $33,000 after purchasing an additional 265 shares during the period. Finally, Investors Research Corp boosted its position in Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 125 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.

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