Genuine Parts (NYSE:GPC) Price Target Raised to $162.00 at JPMorgan Chase & Co.

Genuine Parts (NYSE:GPC - Get Free Report) had its target price hoisted by analysts at JPMorgan Chase & Co. from $157.00 to $162.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the specialty retailer's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 13.16% from the company's current price.

Several other equities analysts have also commented on GPC. StockNews.com lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday. UBS Group dropped their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 3rd. Truist Financial reaffirmed a "buy" rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. The Goldman Sachs Group dropped their price target on Genuine Parts from $166.00 to $162.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 24th. Finally, Wedbush reduced their price objective on Genuine Parts from $170.00 to $145.00 and set a "neutral" rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $157.29.

Genuine Parts Trading Up 2.0 %

Shares of GPC traded up $2.75 during trading hours on Wednesday, reaching $143.16. 879,212 shares of the company traded hands, compared to its average volume of 960,605. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The company's fifty day moving average price is $138.63 and its two-hundred day moving average price is $143.34. The company has a market capitalization of $19.94 billion, a price-to-earnings ratio of 15.98 and a beta of 0.90.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion for the quarter, compared to analysts' expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm's revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $2.44 EPS. Equities research analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Manchester Capital Management LLC raised its position in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer's stock worth $39,000 after buying an additional 66 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Genuine Parts by 8.5% during the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer's stock valued at $138,000 after purchasing an additional 70 shares during the last quarter. CHICAGO TRUST Co NA lifted its position in Genuine Parts by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer's stock valued at $316,000 after purchasing an additional 71 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer's stock worth $224,000 after purchasing an additional 75 shares during the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer's stock worth $689,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

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.