Genuine Parts (NYSE:GPC) Now Covered by Analysts at Loop Capital

Equities researchers at Loop Capital started coverage on shares of Genuine Parts (NYSE:GPC - Get Free Report) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $155.00 price target on the specialty retailer's stock. Loop Capital's target price would suggest a potential upside of 29.77% from the stock's current price.

Several other analysts also recently weighed in on GPC. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 22nd. Truist Financial cut their price target on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $141.50.

Genuine Parts Stock Up 1.8 %

Shares of GPC traded up $2.07 during mid-day trading on Thursday, hitting $119.45. 492,329 shares of the company traded hands, compared to its average volume of 1,056,015. The business has a 50 day moving average of $120.84 and a 200 day moving average of $130.61. The company has a market capitalization of $16.61 billion, a PE ratio of 15.35 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the company posted $2.49 EPS. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the 3rd quarter worth about $31,000. Concord Wealth Partners lifted its stake in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after buying an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts during the 3rd quarter worth approximately $44,000. Finally, First Financial Corp IN acquired a new position in shares of Genuine Parts during the fourth quarter valued at approximately $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

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.