Evercore ISI Cuts Genuine Parts (NYSE:GPC) Price Target to $125.00

Genuine Parts (NYSE:GPC) had its price objective cut by research analysts at Evercore ISI from $128.00 to $125.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s price objective indicates a potential upside of 2.97% from the stock’s current price.

GPC has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $137.13.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded down $0.25 during midday trading on Wednesday, reaching $121.40. 373,645 shares of the company traded hands, compared to its average volume of 1,575,136. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 15.63 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average price is $118.27 and its two-hundred day moving average price is $127.34.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. During the same period in the prior year, the company posted $2.26 EPS. On average, equities analysts expect that Genuine Parts will post 8.08 earnings per share for the current year.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Trading of Genuine Parts

Several large investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Genuine Parts in the fourth quarter worth approximately $206,645,000. Junto Capital Management LP purchased a new stake in Genuine Parts during the 4th quarter valued at $94,868,000. Equity Investment Corp bought a new stake in Genuine Parts in the fourth quarter worth $84,128,000. International Assets Investment Management LLC lifted its position in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after buying an additional 580,262 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in Genuine Parts by 204.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock worth $92,129,000 after buying an additional 530,057 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.