Genuine Parts (NYSE:GPC) Price Target Lowered to $125.00 at UBS Group

Genuine Parts (NYSE:GPC) had its price objective dropped by analysts at UBS Group from $145.00 to $125.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. UBS Group’s price objective points to a potential upside of 10.51% from the company’s current price.

GPC has been the topic of a number of other research reports. Truist Financial reissued a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. The Goldman Sachs Group reduced their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Wedbush lowered their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $113.11 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The stock has a market capitalization of $15.76 billion, a P/E ratio of 12.61 and a beta of 0.90. The business has a 50-day moving average price of $137.72 and a two-hundred day moving average price of $142.43.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the firm earned $2.49 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Institutional Investors Weigh In On Genuine Parts

Several institutional investors have recently added to or reduced their stakes in GPC. Comerica Bank increased its holdings in Genuine Parts by 19.6% during the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after purchasing an additional 18,657 shares in the last quarter. Mezzasalma Advisors LLC grew its holdings in shares of Genuine Parts by 497.0% during the first quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock worth $1,865,000 after buying an additional 10,019 shares in the last quarter. Acadian Asset Management LLC raised its position in Genuine Parts by 137.9% in the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after buying an additional 13,330 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Genuine Parts in the 1st quarter valued at approximately $3,083,000. Finally, Wellington Management Group LLP boosted its position in Genuine Parts by 726.9% during the 4th quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock worth $7,582,000 after acquiring an additional 48,122 shares during the last quarter. 78.83% of the stock is owned by 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.