Genuine Parts (NYSE:GPC) Cut to “Hold” at StockNews.com

Genuine Parts (NYSE:GPC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other equities research analysts have also recently issued reports on GPC. Evercore ISI cut their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, Truist Financial upped their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $173.10.

Genuine Parts Stock Performance

NYSE GPC traded down $0.91 on Thursday, reaching $154.10. The stock had a trading volume of 585,753 shares, compared to its average volume of 1,038,486. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The company has a market cap of $21.47 billion, a P/E ratio of 17.18 and a beta of 0.94. The firm has a fifty day moving average of $154.37 and a two-hundred day moving average of $144.71. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. Genuine Parts’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.14 earnings per share. On average, equities research analysts anticipate that Genuine Parts will post 9.92 EPS for the current year.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently made changes to their positions in GPC. Fifth Third Bancorp lifted its position in shares of Genuine Parts by 4.3% in the 3rd quarter. Fifth Third Bancorp now owns 14,118 shares of the specialty retailer’s stock worth $2,038,000 after purchasing an additional 580 shares during the period. Teacher Retirement System of Texas raised its stake in Genuine Parts by 8.5% during the third quarter. Teacher Retirement System of Texas now owns 135,261 shares of the specialty retailer’s stock worth $19,529,000 after buying an additional 10,650 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in Genuine Parts by 7.3% in the third quarter. New Mexico Educational Retirement Board now owns 7,321 shares of the specialty retailer’s stock valued at $1,057,000 after buying an additional 500 shares during the period. Daiwa Securities Group Inc. boosted its position in Genuine Parts by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 13,070 shares of the specialty retailer’s stock valued at $1,887,000 after acquiring an additional 1,435 shares during the last quarter. Finally, Telos Capital Management Inc. grew its holdings in Genuine Parts by 5.2% during the 3rd quarter. Telos Capital Management Inc. now owns 34,621 shares of the specialty retailer’s stock worth $4,999,000 after acquiring an additional 1,724 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

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.