Genuine Parts (NYSE:GPC) PT Raised to $183.00 at Truist Financial

Genuine Parts (NYSE:GPC) had its price target increased by stock analysts at Truist Financial from $167.00 to $183.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s target price indicates a potential upside of 12.69% from the stock’s previous close.

A number of other equities analysts also recently commented on GPC. Wedbush restated a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. Evercore ISI cut their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $173.10.

Genuine Parts Stock Up 1.3 %

GPC stock opened at $162.39 on Friday. The company has a fifty day moving average price of $150.30 and a 200 day moving average price of $142.35. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The company has a market cap of $22.64 billion, a price-to-earnings ratio of 18.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.63.

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. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. Genuine Parts’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts expect that Genuine Parts will post 9.85 earnings per share for the current year.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Institutional Trading of Genuine Parts

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Genuine Parts by 2.9% during the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock worth $2,153,442,000 after buying an additional 481,039 shares in the last quarter. State Street Corp grew its position in shares of Genuine Parts by 2.4% during the first quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock worth $1,209,476,000 after buying an additional 171,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Genuine Parts by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock worth $612,531,000 after buying an additional 185,529 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Genuine Parts by 1.3% during the first quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock worth $497,089,000 after buying an additional 36,774 shares in the last quarter. Finally, Imprint Wealth LLC grew its position in shares of Genuine Parts by 16,507.5% during the second quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock worth $261,119,000 after buying an additional 2,595,471 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

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.