Genuine Parts (NYSE:GPC) Upgraded by Redburn Atlantic to Hold Rating

Genuine Parts (NYSE:GPC - Get Free Report) was upgraded by Redburn Atlantic to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also recently weighed in on GPC. JPMorgan Chase & Co. reduced their price target on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Wedbush reduced their target price on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. UBS Group lowered their price target on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Genuine Parts has a consensus rating of "Hold" and an average price target of $139.57.

Genuine Parts Trading Up 0.8 %

Shares of NYSE GPC traded up $1.00 during trading hours on Monday, hitting $123.70. The company's stock had a trading volume of 1,437,276 shares, compared to its average volume of 1,055,953. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The stock has a market cap of $17.20 billion, a price-to-earnings ratio of 15.99 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The business has a 50-day simple moving average of $131.64 and a 200-day simple moving average of $139.05.

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 for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analysts' expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.49 EPS. On average, analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Institutional Trading of Genuine Parts

Several institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts during the 3rd quarter valued at $31,000. Concord Wealth Partners lifted its holdings in shares of Genuine Parts by 79.3% during 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 during the period. Triad Wealth Partners LLC purchased a new position in shares of Genuine Parts in the 2nd quarter worth $40,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts in the third quarter worth $44,000. 78.83% of the stock is currently owned by hedge funds and other 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.