Genuine Parts (NYSE:GPC - Get Free Report) had its price target raised by research analysts at UBS Group from $125.00 to $135.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the specialty retailer's stock. UBS Group's price objective suggests a potential upside of 1.07% from the company's previous close.
GPC has been the subject of a number of other reports. Truist Financial increased their price target on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Evercore ISI decreased 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $135.29.
Check Out Our Latest Stock Analysis on GPC
Genuine Parts Stock Up 0.3%
Shares of GPC stock traded up $0.36 during trading hours on Wednesday, reaching $133.57. The company had a trading volume of 823,068 shares, compared to its average volume of 1,155,766. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $149.22. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The business has a fifty day simple moving average of $124.96 and a 200-day simple moving average of $121.18. The company has a market cap of $18.58 billion, a price-to-earnings ratio of 22.99 and a beta of 0.74.
Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter last year, the company earned $2.44 earnings per share. The company's revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Genuine Parts
Several hedge funds have recently made changes to their positions in GPC. Concord Wealth Partners boosted its stake in Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer's stock valued at $36,000 after buying an additional 177 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Genuine Parts by 98.0% in the 2nd quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer's stock valued at $72,307,000 after acquiring an additional 295,064 shares during the last quarter. Bill Few Associates Inc. lifted its stake in shares of Genuine Parts by 5.8% in the 2nd quarter. Bill Few Associates Inc. now owns 3,489 shares of the specialty retailer's stock valued at $423,000 after acquiring an additional 192 shares during the last quarter. GW Henssler & Associates Ltd. lifted its stake in shares of Genuine Parts by 17.6% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 6,887 shares of the specialty retailer's stock valued at $835,000 after acquiring an additional 1,030 shares during the last quarter. Finally, CWM LLC increased its holdings in Genuine Parts by 108.6% during the 2nd quarter. CWM LLC now owns 8,012 shares of the specialty retailer's stock valued at $972,000 after purchasing an additional 4,172 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.
About Genuine Parts
(
Get Free Report)
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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