JPMorgan Chase & Co. Raises Genuine Parts (NYSE:GPC) Price Target to $150.00

Key Points

• JPMorgan Chase & Co. increased its price target for Genuine Parts (NYSE:GPC) from $145.00 to $150.00, indicating a potential upside of 14.74% from the current stock price.
• A mix of different firms have raised their price targets for Genuine Parts, with Loop Capital setting it at $160.00 and Truist Financial at $146.00, reflecting positive sentiment among analysts.
• Despite a positive revenue report of $6.26 billion for the quarter, Genuine Parts missed earnings estimates by $0.04, reporting earnings of $1.98 per share compared to the expected $2.02.

Genuine Parts (NYSE:GPC - Get Free Report) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $145.00 to $150.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the specialty retailer's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 14.74% from the company's current price.

A number of other analysts have also recently commented on the company. Loop Capital boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Truist Financial increased their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a "buy" rating in a research note on Tuesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Evercore ISI increased their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, October 1st. Finally, UBS Group lifted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. One 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 issued a Sell rating to the company. According to MarketBeat.com, Genuine Parts currently has an average rating of "Moderate Buy" and an average price target of $143.33.

Genuine Parts Trading Down 1.6%

Shares of NYSE GPC traded down $2.13 during trading hours on Thursday, hitting $130.73. The company's stock had a trading volume of 366,050 shares, compared to its average volume of 1,354,259. The business has a 50-day simple moving average of $137.39 and a 200-day simple moving average of $128.07. The stock has a market cap of $18.18 billion, a price-to-earnings ratio of 22.53 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $143.48.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.94%. The company had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.12 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of the sale, the executive vice president directly owned 26,112 shares in the company, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company's stock.

Institutional Investors Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quadcap Wealth Management LLC lifted its stake in shares of Genuine Parts by 1.4% during the 2nd quarter. Quadcap Wealth Management LLC now owns 5,578 shares of the specialty retailer's stock worth $677,000 after purchasing an additional 75 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Genuine Parts by 12.2% in the 2nd quarter. Penserra Capital Management LLC now owns 747 shares of the specialty retailer's stock valued at $90,000 after buying an additional 81 shares in the last quarter. Avidian Wealth Enterprises LLC grew its position in shares of Genuine Parts by 3.3% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 2,577 shares of the specialty retailer's stock worth $313,000 after buying an additional 82 shares during the last quarter. Diversified Trust Co raised its stake in shares of Genuine Parts by 1.8% during the 2nd quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer's stock worth $562,000 after acquiring an additional 83 shares in the last quarter. Finally, Brown Lisle Cummings Inc. lifted its position in Genuine Parts by 5.7% during the second quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer's stock valued at $187,000 after acquiring an additional 83 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.

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