Genuine Parts (NYSE:GPC) Stock Rating Upgraded by Loop Capital

Genuine Parts (NYSE:GPC) was upgraded by equities research analysts at Loop Capital to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

GPC has been the topic of several other reports. JPMorgan Chase & Co. decreased 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 report on Tuesday, October 22nd. Truist Financial dropped their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average target price of $141.50.

Genuine Parts Stock Up 1.7 %

Shares of Genuine Parts stock opened at $119.38 on Wednesday. The stock has a 50-day moving average price of $120.76 and a 200 day moving average price of $130.54. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a market cap of $16.60 billion, a P/E ratio of 15.36 and a beta of 0.95. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results 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 company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the company posted $2.49 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently modified their holdings of GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the third quarter valued at $31,000. Concord Wealth Partners lifted its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts during the 3rd quarter valued at approximately $44,000. Finally, First Financial Corp IN bought a new position in Genuine Parts during the fourth quarter worth $44,000. Institutional investors own 78.83% of the company’s stock.

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.