Investment analysts at StockNews.com assumed coverage on shares of Genuine Parts (NYSE:GPC – Get Free Report) in a report issued on Thursday. The brokerage set a “buy” rating on the specialty retailer’s stock.
A number of other analysts also recently commented on the stock. Wedbush cut their price objective on shares of Genuine Parts from $170.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Stephens reduced their price objective on Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, July 21st. Evercore ISI lowered their price objective on Genuine Parts from $170.00 to $165.00 in a research note on Friday, July 21st. Northcoast Research assumed coverage on Genuine Parts in a research note on Wednesday, June 28th. They issued a “buy” rating and a $195.00 target price for the company. Finally, Bank of America raised shares of Genuine Parts from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $189.00 in a research report on Thursday, June 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Moderate Buy” and an average price target of $177.00.
Get Our Latest Analysis on Genuine Parts
Genuine Parts Price Performance
Genuine Parts (NYSE:GPC – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.10. Genuine Parts had a return on equity of 32.43% and a net margin of 5.30%. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.96 billion. During the same quarter last year, the firm posted $2.20 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts predict that Genuine Parts will post 9.24 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Randall P. Breaux acquired 500 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were purchased at an average price of $149.44 per share, for a total transaction of $74,720.00. Following the acquisition, the insider now owns 20,523 shares of the company’s stock, valued at $3,066,957.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in GPC. Exchange Traded Concepts LLC increased its position in shares of Genuine Parts by 110.8% during the second quarter. Exchange Traded Concepts LLC now owns 156 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 82 shares during the period. Sunbelt Securities Inc. raised its position in Genuine Parts by 122.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 88 shares in the last quarter. OLD Mission Capital LLC purchased a new position in shares of Genuine Parts in the 4th quarter valued at about $28,000. Ten Capital Wealth Advisors LLC grew its position in shares of Genuine Parts by 1,308.3% during the first quarter. Ten Capital Wealth Advisors LLC now owns 169 shares of the specialty retailer’s stock worth $28,000 after buying an additional 157 shares in the last quarter. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of Genuine Parts during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.67% of the company’s stock.
About Genuine Parts
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.
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