Genuine Parts' (GPC) Hold (C) Rating Reaffirmed at Weiss Ratings

Genuine Parts (NYSE:GPC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently weighed in on the stock. Loop Capital upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. UBS Group upped their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI upped their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Truist Financial upped their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Genuine Parts presently has a consensus rating of "Hold" and an average target price of $138.14.

Genuine Parts Price Performance

Shares of GPC opened at $133.74 on Wednesday. The firm has a market capitalization of $18.60 billion, a PE ratio of 23.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $144.29. The company's fifty day moving average price is $137.42 and its 200-day moving average price is $127.13.

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. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities research analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Insider Buying and Selling at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of the transaction, the executive vice president owned 26,112 shares of the company's stock, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company's stock.

Hedge Funds Weigh In On Genuine Parts

A number of hedge funds have recently made changes to their positions in GPC. Goldman Sachs Group Inc. boosted its position in shares of Genuine Parts by 276.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock worth $399,449,000 after purchasing an additional 2,461,497 shares during the period. Norges Bank acquired a new stake in Genuine Parts during the 2nd quarter worth approximately $211,661,000. Federated Hermes Inc. acquired a new stake in Genuine Parts during the 2nd quarter worth approximately $107,015,000. Assenagon Asset Management S.A. raised its holdings in shares of Genuine Parts by 377.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer's stock valued at $113,233,000 after purchasing an additional 737,836 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Genuine Parts by 22.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock valued at $327,974,000 after purchasing an additional 498,469 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

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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