Genuine Parts (NYSE:GPC) Price Target Cut to $162.00 by Analysts at The Goldman Sachs Group

Genuine Parts (NYSE:GPC) had its target price cut by equities research analysts at The Goldman Sachs Group from $166.00 to $162.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 18.72% from the stock’s previous close.

GPC has been the topic of several other research reports. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Wednesday. UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Wedbush reiterated a “neutral” rating and issued a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Evercore ISI lowered their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group increased their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $164.71.

Genuine Parts Stock Performance

Shares of GPC stock traded down $0.75 during trading on Wednesday, hitting $136.46. The company’s stock had a trading volume of 414,096 shares, compared to its average volume of 1,020,001. The business has a fifty day moving average of $141.22 and a 200-day moving average of $146.39. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The company has a market cap of $19.01 billion, a PE ratio of 15.21 and a beta of 0.92. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the company posted $2.44 earnings per share. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts anticipate that Genuine Parts will post 9.86 earnings per share for the current year.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GPC. WD Rutherford LLC bought a new stake in shares of Genuine Parts in the first quarter worth about $26,000. Assetmark Inc. grew its stake in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. Union Savings Bank grew its stake in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts in the first quarter worth about $35,000. Finally, Stephens Consulting LLC grew its stake in shares of Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. 78.83% of the stock is 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.