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

Genuine Parts (NYSE:GPC) was upgraded by The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a $142.00 price target on the specialty retailer’s stock, up from their prior price target of $130.00. The Goldman Sachs Group’s price objective would suggest a potential upside of 11.54% from the stock’s current price.

Several other equities analysts have also recently issued reports on GPC. UBS Group lifted their price objective on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Loop Capital lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Truist Financial raised their target price on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Genuine Parts Stock Down 0.3%

Shares of NYSE GPC opened at $127.30 on Thursday. The stock has a market capitalization of $17.71 billion, a price-to-earnings ratio of 21.91 and a beta of 0.75. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $143.48. The firm has a 50-day moving average price of $133.68 and a 200 day moving average price of $129.83. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78.

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). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same period last year, the business posted $1.88 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Insider Buying and Selling

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 value of $732,450.36. Following the completion of the transaction, the executive vice president directly 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 is accessible through this link. Insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC boosted its holdings in Genuine Parts by 19.7% in the first quarter. CWM LLC now owns 3,840 shares of the specialty retailer’s stock valued at $457,000 after acquiring an additional 632 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Genuine Parts by 11.3% during the 1st quarter. Sigma Planning Corp now owns 3,979 shares of the specialty retailer’s stock worth $474,000 after purchasing an additional 403 shares during the period. Wealthfront Advisers LLC increased its position in Genuine Parts by 51.0% during the 1st quarter. Wealthfront Advisers LLC now owns 6,094 shares of the specialty retailer’s stock worth $726,000 after purchasing an additional 2,058 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in Genuine Parts by 6.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 74,120 shares of the specialty retailer’s stock worth $8,831,000 after purchasing an additional 4,734 shares in the last quarter. Finally, Grandfield & Dodd LLC purchased a new position in Genuine Parts in the first quarter valued at approximately $202,000. 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.