Genuine Parts (NYSE:GPC) Price Target Raised to $105.00

Genuine Parts (NYSE:GPC) had its price target upped by stock analysts at Bank of America from $100.00 to $105.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. Bank of America‘s price target suggests a potential upside of 6.89% from the company’s current price.

Several other analysts have also commented on the company. Zacks Investment Research raised Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price objective for the company in a report on Wednesday, July 24th. Stephens assumed coverage on Genuine Parts in a report on Thursday, May 30th. They set an “overweight” rating and a $114.00 price target for the company. Jefferies Financial Group set a $102.00 price target on Genuine Parts and gave the company a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. cut their price target on Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Goldman Sachs Group assumed coverage on Genuine Parts in a report on Thursday, July 11th. They set a “neutral” rating and a $107.00 price target for the company. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $105.75.

Shares of GPC traded up $0.18 during trading hours on Thursday, hitting $98.23. The stock had a trading volume of 224,479 shares, compared to its average volume of 851,707. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. Genuine Parts has a 12 month low of $87.26 and a 12 month high of $115.20. The firm has a market capitalization of $14.07 billion, a PE ratio of 17.29, a PEG ratio of 3.34 and a beta of 0.93. The stock has a fifty day moving average price of $92.19 and a 200 day moving average price of $101.50.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.08). Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The firm had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5 billion. During the same period in the previous year, the firm earned $1.59 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Genuine Parts will post 5.7 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Comerica Securities Inc. purchased a new position in shares of Genuine Parts in the fourth quarter valued at about $256,000. Dimensional Fund Advisors LP lifted its position in shares of Genuine Parts by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 904,189 shares of the specialty retailer’s stock valued at $86,820,000 after acquiring an additional 22,731 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Genuine Parts by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock valued at $188,434,000 after acquiring an additional 163,768 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Genuine Parts in the first quarter valued at about $235,000. Finally, Cetera Advisors LLC lifted its position in shares of Genuine Parts by 2.0% in the first quarter. Cetera Advisors LLC now owns 7,711 shares of the specialty retailer’s stock valued at $862,000 after acquiring an additional 151 shares in the last quarter. 76.86% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

Featured Article: What is Net Asset Value (NAV)?

Analyst Recommendations for Genuine Parts (NYSE:GPC)

Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply