Genuine Parts (NYSE:GPC) Price Target Increased to $170.00 by Analysts at Jefferies Financial Group

Genuine Parts (NYSE:GPC - Get Free Report) had its target price upped by research analysts at Jefferies Financial Group from $150.00 to $170.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "hold" rating on the specialty retailer's stock. Jefferies Financial Group's price objective would indicate a potential upside of 4.69% from the company's previous close.

GPC has been the subject of several other research reports. Evercore ISI reduced their target price on shares of Genuine Parts from $160.00 to $155.00 and set an "in-line" rating for the company in a research note on Tuesday. Truist Financial upped their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a "buy" rating in a research report on Friday. Wedbush reissued a "neutral" rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research report on Friday. Finally, StockNews.com upgraded Genuine Parts from a "hold" rating to a "buy" rating in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $173.10.

Genuine Parts Stock Up 1.3 %

NYSE GPC traded up $2.16 during trading hours on Friday, hitting $162.39. The company's stock had a trading volume of 3,396,347 shares, compared to its average volume of 1,057,966. The company has a market capitalization of $22.64 billion, a PE ratio of 17.41 and a beta of 0.94. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The company's 50-day simple moving average is $150.30 and its two-hundred day simple moving average is $142.34.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the company earned $2.14 earnings per share. The company's revenue for the quarter was up .3% on a year-over-year basis. Research analysts anticipate that Genuine Parts will post 9.66 EPS for the current fiscal year.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the company's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company's stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.37% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GPC. Comerica Bank bought a new stake in shares of Genuine Parts during the second quarter valued at about $190,000. Sunbelt Securities Inc. increased its holdings in Genuine Parts by 122.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 88 shares during the period. WD Rutherford LLC purchased a new stake in Genuine Parts in the 1st quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Genuine Parts in the 3rd quarter valued at $25,000. Finally, OFI Invest Asset Management purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $25,000. 78.83% of the stock is owned by 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.