Loop Capital Initiates Coverage on Genuine Parts (NYSE:GPC)

Equities research analysts at Loop Capital started coverage on shares of Genuine Parts (NYSE:GPC - Get Free Report) in a research report issued on Thursday, MarketBeat reports. The firm set a "buy" rating and a $155.00 price target on the specialty retailer's stock. Loop Capital's price objective would indicate a potential upside of 29.83% from the company's previous close.

A number of other equities research analysts have also recently issued reports on GPC. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Truist Financial decreased their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. Finally, UBS Group reduced their price target on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of "Hold" and a consensus target price of $141.50.

Genuine Parts Stock Up 1.7 %

GPC traded up $2.00 during trading hours on Thursday, hitting $119.38. 1,625,916 shares of the company's stock were exchanged, compared to its average volume of 1,173,112. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of 15.36 and a beta of 0.95. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The stock's 50-day moving average is $120.84 and its two-hundred day moving average is $130.61. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.49 earnings per share. Sell-side analysts predict that Genuine Parts will post 8.09 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 company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares of the company's stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of Genuine Parts by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer's stock worth $189,296,000 after purchasing an additional 239,858 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Genuine Parts by 12.3% in the second quarter. Citizens Financial Group Inc. RI now owns 3,685 shares of the specialty retailer's stock valued at $513,000 after buying an additional 404 shares during the period. Renaissance Technologies LLC acquired a new stake in Genuine Parts during the second quarter worth approximately $10,900,000. Edgestream Partners L.P. increased its stake in Genuine Parts by 266.5% during the 2nd quarter. Edgestream Partners L.P. now owns 6,007 shares of the specialty retailer's stock worth $831,000 after acquiring an additional 4,368 shares during the period. Finally, Amalgamated Bank raised its holdings in Genuine Parts by 26.9% in the 2nd quarter. Amalgamated Bank now owns 36,809 shares of the specialty retailer's stock valued at $5,091,000 after acquiring an additional 7,799 shares in the last quarter. Institutional investors 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.