Genuine Parts (NYSE:GPC) Stock Rating Reaffirmed by Wedbush

Genuine Parts (NYSE:GPC)‘s stock had its “neutral” rating reiterated by analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They presently have a $170.00 price objective on the specialty retailer’s stock, up from their previous price objective of $140.00. Wedbush’s price target would indicate a potential upside of 5.28% from the company’s previous close.

GPC has been the topic of a number of other reports. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Evercore ISI dropped their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday. Finally, Truist Financial raised their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.44.

Genuine Parts Trading Up 0.8 %

NYSE GPC traded up $1.25 on Friday, hitting $161.48. The company’s stock had a trading volume of 193,203 shares, compared to its average volume of 1,015,288. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average is $149.92 and its 200 day moving average is $142.22. The firm has a market cap of $22.51 billion, a PE ratio of 17.31 and a beta of 0.94.

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. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. Genuine Parts’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.14 earnings per share. As a group, analysts predict that Genuine Parts will post 9.66 earnings per share for the current fiscal year.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s 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 transaction, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GPC. Salem Investment Counselors Inc. increased its position in Genuine Parts by 42.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 60 shares during the period. Wetherby Asset Management Inc. increased its position in Genuine Parts by 3.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 2,101 shares of the specialty retailer’s stock valued at $352,000 after purchasing an additional 61 shares during the period. Federated Hermes Inc. increased its position in Genuine Parts by 2.9% during the 3rd quarter. Federated Hermes Inc. now owns 2,402 shares of the specialty retailer’s stock valued at $359,000 after purchasing an additional 68 shares during the period. CHICAGO TRUST Co NA increased its position in Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after purchasing an additional 71 shares during the period. Finally, Axxcess Wealth Management LLC increased its position in Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after purchasing an additional 74 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.