Truist Financial Raises Genuine Parts (NYSE:GPC) Price Target to $162.00

Genuine Parts (NYSE:GPC) had its target price boosted by investment analysts at Truist Financial from $146.00 to $162.00 in a report released on Thursday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Truist Financial’s target price would indicate a potential upside of 9.93% from the company’s previous close.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. Evercore ISI set a $175.00 target price on Genuine Parts in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. Finally, UBS Group reiterated a “neutral” rating on shares of Genuine Parts in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $154.14.

Genuine Parts Trading Down 0.2%

Shares of GPC opened at $147.37 on Thursday. The business has a 50-day moving average of $133.37 and a 200 day moving average of $133.52. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $151.57. The firm has a market cap of $20.50 billion, a P/E ratio of 25.36 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14.

Hedge Funds Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Community Bank N.A. bought a new stake in shares of Genuine Parts during the 3rd quarter valued at about $27,000. Olistico Wealth LLC purchased a new position in Genuine Parts in the 4th quarter worth approximately $25,000. Peoples Financial Services CORP. purchased a new position in Genuine Parts in the 3rd quarter worth approximately $29,000. WPG Advisers LLC increased its holdings in shares of Genuine Parts by 213.0% in the 4th quarter. WPG Advisers LLC now owns 241 shares of the specialty retailer’s stock worth $30,000 after buying an additional 164 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Genuine Parts by 6,225.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 253 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 249 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Company Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.