Genuine Parts (NYSE:GPC) Now Covered by Truist Financial

Investment analysts at Truist Financial began coverage on shares of Genuine Parts (NYSE:GPC) in a report released on Thursday, Briefing.com reports. The firm set a “hold” rating and a $142.00 price target on the specialty retailer’s stock. Truist Financial’s price objective suggests a potential upside of 2.82% from the stock’s previous close.

Several other analysts have also recently weighed in on GPC. Zacks Investment Research cut shares of Genuine Parts from a “buy” rating to a “hold” rating and set a $141.00 target price on the stock. in a report on Wednesday, December 22nd. Stephens lifted their price objective on shares of Genuine Parts from $130.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, October 22nd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $138.00.

NYSE:GPC opened at $138.11 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.62 and a current ratio of 1.19. The company has a fifty day moving average of $135.46 and a two-hundred day moving average of $129.29. The stock has a market capitalization of $19.67 billion, a PE ratio of 24.53, a P/E/G ratio of 1.57 and a beta of 1.08. Genuine Parts has a fifty-two week low of $93.62 and a fifty-two week high of $142.97.

Genuine Parts (NYSE:GPC) last released its earnings results on Wednesday, October 20th. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.24. Genuine Parts had a net margin of 4.44% and a return on equity of 29.60%. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Research analysts forecast that Genuine Parts will post 6.71 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. raised its position in shares of Genuine Parts by 960.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 86,365 shares of the specialty retailer’s stock valued at $5,271,000 after acquiring an additional 78,220 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Genuine Parts by 433.2% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 129,511 shares of the specialty retailer’s stock valued at $15,701,000 after purchasing an additional 105,223 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Genuine Parts by 53.5% during the second quarter. Franklin Resources Inc. now owns 74,562 shares of the specialty retailer’s stock valued at $9,431,000 after purchasing an additional 25,996 shares during the last quarter. WBI Investments Inc. purchased a new stake in Genuine Parts in the 2nd quarter worth about $3,581,000. Finally, Kornitzer Capital Management Inc. KS raised its stake in shares of Genuine Parts by 1.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 120,809 shares of the specialty retailer’s stock worth $14,646,000 after purchasing an additional 1,559 shares in the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group and Industrial Parts Group. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

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Analyst Recommendations for Genuine Parts (NYSE:GPC)

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