Genuine Parts (NYSE:GPC) Lowered to “Neutral” Rating by Northcoast Research

Genuine Parts (NYSE:GPC) was downgraded by analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research note issued on Friday, MarketBeat reports.

Several other equities research analysts have also weighed in on the company. Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. UBS Group lowered their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Stock Down 0.8 %

Shares of Genuine Parts stock opened at $118.43 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a market capitalization of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. The company has a 50 day moving average of $120.69 and a 200 day moving average of $130.39.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the firm posted $2.49 earnings per share. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Genuine Parts

Hedge funds have recently modified their holdings of the stock. Quantinno Capital Management LP raised its position in Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after buying an additional 4,809 shares during the last quarter. Miramar Capital LLC raised its holdings in Genuine Parts by 9.8% during the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after purchasing an additional 7,845 shares in the last quarter. Conning Inc. lifted its position in Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after purchasing an additional 19,795 shares during the period. WD Rutherford LLC boosted its holdings in Genuine Parts by 4,265.9% in the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock valued at $1,037,000 after purchasing an additional 7,252 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Genuine Parts by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after purchasing an additional 56,776 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.