Genuine Parts (NYSE:GPC) Raised to “Neutral” at The Goldman Sachs Group

Genuine Parts (NYSE:GPC) was upgraded by equities research analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report issued on Thursday, MarketBeat.com reports. The brokerage presently has a $142.00 price objective on the specialty retailer’s stock, up from their previous price objective of $130.00. The Goldman Sachs Group’s target price would indicate a potential upside of 11.83% from the company’s current price.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. lifted their target price on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Evercore ISI raised their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Truist Financial lifted their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Loop Capital upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Trading Down 0.2%

NYSE GPC opened at $126.98 on Thursday. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 21.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $143.48. The company’s fifty day moving average price is $134.19 and its two-hundred day moving average price is $129.78.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of the transaction, the executive vice president owned 26,112 shares in the company, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Genuine Parts

A number of institutional investors and hedge funds have recently bought and sold shares of GPC. Peoples Financial Services CORP. bought a new position in shares of Genuine Parts in the third quarter valued at approximately $29,000. Golden State Wealth Management LLC increased its position in shares of Genuine Parts by 8,833.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 265 shares during the period. Concord Wealth Partners raised its stake in shares of Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after buying an additional 177 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Genuine Parts by 7,825.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after buying an additional 313 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its holdings in shares of Genuine Parts by 49.1% in the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 114 shares during the period. 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.