Genuine Parts (NYSE:GPC) Given New $150.00 Price Target at Argus

Genuine Parts (NYSE:GPC) had its price objective reduced by stock analysts at Argus from $156.00 to $150.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Argus’ price target would indicate a potential upside of 19.32% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $165.00 target price on shares of Genuine Parts in a research report on Wednesday, July 22nd. UBS Group boosted their price objective on shares of Genuine Parts from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday. DA Davidson boosted their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, September 21st. Finally, The Goldman Sachs Group set a $122.00 price objective on Genuine Parts in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.00.

Genuine Parts Price Performance

Shares of NYSE:GPC traded up $0.93 during midday trading on Thursday, reaching $125.71. 181,920 shares of the company’s stock were exchanged, compared to its average volume of 1,553,025. The company’s 50 day simple moving average is $131.70 and its two-hundred day simple moving average is $118.96. The firm has a market capitalization of $17.33 billion, a PE ratio of 502.52, a price-to-earnings-growth ratio of 2.30 and a beta of 0.67. Genuine Parts has a 12 month low of $90.78 and a 12 month high of $151.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.50 and a current ratio of 1.22.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 EPS for the quarter, beating the consensus estimate of $2.04 by $0.03. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.49 billion. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. Genuine Parts’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 EPS. Equities research analysts expect that Genuine Parts will post 7.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genuine Parts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Genuine Parts in the 2nd quarter valued at about $1,574,910,000. Dimensional Fund Advisors LP boosted its position in Genuine Parts by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,055,496 shares of the specialty retailer’s stock valued at $217,354,000 after purchasing an additional 180,485 shares during the last quarter. Bank of America Corp DE acquired a new position in Genuine Parts during the second quarter valued at approximately $201,072,000. Corient Private Wealth LP bought a new position in Genuine Parts in the second quarter valued at approximately $3,903,000. Finally, Cullen Capital Management LLC bought a new position in Genuine Parts in the second quarter valued at approximately $166,471,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Company Profile

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.