Genuine Parts (NYSE:GPC) Upgraded by Evercore ISI to "Outperform" Rating

Genuine Parts (NYSE:GPC - Get Free Report) was upgraded by analysts at Evercore ISI from an "in-line" rating to an "outperform" rating in a research note issued on Friday, Marketbeat Ratings reports. The firm currently has a $135.00 price objective on the specialty retailer's stock, up from their previous price objective of $128.00. Evercore ISI's price target would suggest a potential upside of 19.66% from the stock's current price.

GPC has been the subject of several other research reports. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective for the company. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Truist Financial boosted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Genuine Parts has an average rating of "Hold" and a consensus target price of $135.88.

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Genuine Parts Stock Up 6.9 %

Shares of NYSE GPC traded up $7.28 during mid-day trading on Friday, reaching $112.82. 920,952 shares of the company's stock traded hands, compared to its average volume of 1,240,054. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a 1-year low of $103.25 and a 1-year high of $164.45. The stock has a market cap of $15.66 billion, a P/E ratio of 17.35 and a beta of 0.82. The business has a 50-day simple moving average of $120.51 and a 200 day simple moving average of $122.80.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the business earned $2.26 EPS. On average, analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in Genuine Parts during the fourth quarter worth about $25,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts in the 4th quarter worth approximately $29,000. Finally, Synergy Asset Management LLC bought a new stake in Genuine Parts during the 4th quarter valued at $32,000. Institutional investors 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.