Genuine Parts (NYSE:GPC) Rating Lowered to Hold at StockNews.com

Genuine Parts (NYSE:GPC - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other brokerages also recently commented on GPC. The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Evercore ISI reduced their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target for the company. Finally, Truist Financial upped their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Stock Performance

Shares of NYSE GPC traded down $0.39 during mid-day trading on Friday, hitting $117.16. The company had a trading volume of 844,103 shares, compared to its average volume of 1,247,887. The stock's 50-day moving average price is $118.61 and its 200-day moving average price is $120.22. The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 18.11 and a beta of 0.82. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $159.77.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. On average, sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently made changes to their positions in GPC. Millstone Evans Group LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at about $25,000. Rossby Financial LCC purchased a new stake in Genuine Parts during the 1st quarter valued at about $25,000. Olde Wealth Management LLC bought a new position in Genuine Parts during the 1st quarter worth approximately $27,000. Kestra Investment Management LLC purchased a new position in Genuine Parts in the 4th quarter worth approximately $28,000. Finally, First Command Advisory Services Inc. bought a new stake in Genuine Parts in the fourth quarter valued at approximately $28,000. 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.