Genuine Parts (NYSE:GPC) Given Neutral Rating at Wedbush

Genuine Parts (NYSE:GPC - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at Wedbush in a report issued on Friday, Benzinga reports. They currently have a $170.00 target price on the specialty retailer's stock, up from their previous target price of $140.00. Wedbush's price target would suggest a potential upside of 4.69% from the stock's previous close.

Other research analysts have also issued reports about the stock. StockNews.com raised shares of Genuine Parts from a "hold" rating to a "buy" rating in a research note on Friday, April 5th. Evercore ISI dropped their target price on Genuine Parts from $160.00 to $155.00 and set an "in-line" rating for the company in a report on Tuesday. Finally, Truist Financial lifted their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a "buy" rating in a report on Friday. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Genuine Parts has an average rating of "Hold" and a consensus price target of $173.10.

Genuine Parts Price Performance

Shares of NYSE:GPC traded up $2.16 during trading on Friday, reaching $162.39. The stock had a trading volume of 3,396,347 shares, compared to its average volume of 1,057,966. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The stock has a market cap of $22.64 billion, a PE ratio of 17.36 and a beta of 0.94. The business has a fifty day moving average price of $149.92 and a 200-day moving average price of $142.22.

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

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company's stock, valued at $2,230,383.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Genuine Parts during the 3rd quarter worth approximately $25,000. OFI Invest Asset Management acquired a new stake in shares of Genuine Parts in the third quarter valued at $25,000. Assetmark Inc. boosted its holdings in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 96 shares during the period. WD Rutherford LLC purchased a new position in Genuine Parts in the first quarter valued at $26,000. Finally, Sunbelt Securities Inc. grew its stake 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 purchasing an additional 88 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

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.