Genuine Parts (NYSE:GPC) Coverage Initiated by Analysts at Loop Capital

Equities research analysts at Loop Capital started coverage on shares of Genuine Parts (NYSE:GPC - Get Free Report) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a "buy" rating and a $155.00 price target on the specialty retailer's stock. Loop Capital's price objective would suggest a potential upside of 30.88% from the company's current price.

GPC has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Wedbush reduced their price target on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. UBS Group lowered their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $141.50.

Genuine Parts Stock Down 0.8 %

Shares of NYSE:GPC traded down $0.99 during trading on Thursday, hitting $118.43. 2,448,055 shares of the company were exchanged, compared to its average volume of 1,289,014. The firm's 50 day moving average price is $120.76 and its 200-day moving average price is $130.54. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a market capitalization of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the company earned $2.49 EPS. The business's revenue was up 3.0% on a year-over-year basis. On average, research analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were 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 in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genuine Parts

A number of large investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock valued at $1,103,300,000 after acquiring an additional 401,180 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Genuine Parts by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock valued at $458,947,000 after purchasing an additional 32,858 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Genuine Parts by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer's stock worth $383,511,000 after purchasing an additional 30,354 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Genuine Parts by 1.2% during the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer's stock worth $287,405,000 after buying an additional 25,015 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after buying an additional 114,180 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

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.