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

Genuine Parts (NYSE:GPC) had its target price boosted by analysts at Truist Financial from $167.00 to $183.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s price target indicates a potential upside of 13.33% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Wedbush reaffirmed a “neutral” rating and issued a $140.00 price target on shares of Genuine Parts in a report on Friday, February 16th. Finally, 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 report on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.44.

Genuine Parts Stock Up 0.8 %

Shares of NYSE:GPC traded up $1.25 on Friday, reaching $161.48. The company had a trading volume of 193,203 shares, compared to its average volume of 1,015,288. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The stock has a 50-day moving average price of $149.92 and a 200 day moving average price of $142.22. The stock has a market capitalization of $22.51 billion, a P/E ratio of 17.31 and a beta of 0.94. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, equities analysts expect that Genuine Parts will post 9.66 EPS for the current year.

Insider Activity

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

A number of large investors have recently bought and sold shares of GPC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Genuine Parts by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock worth $2,401,000 after acquiring an additional 1,180 shares during the last quarter. Cibc World Market Inc. boosted its position in Genuine Parts by 14.8% in the 1st quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after buying an additional 354 shares during the last quarter. Sei Investments Co. boosted its position in Genuine Parts by 9.4% in the 1st quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after buying an additional 4,372 shares during the last quarter. Aviva PLC boosted its position in Genuine Parts by 63.1% in the 1st quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock valued at $9,949,000 after buying an additional 30,545 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Genuine Parts by 195.1% in the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock valued at $14,408,000 after buying an additional 75,591 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

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.