Wedbush Lowers Genuine Parts (NYSE:GPC) Price Target to $120.00

Genuine Parts (NYSE:GPC) had its price target cut by research analysts at Wedbush from $145.00 to $120.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Wedbush’s price target would suggest a potential upside of 6.09% from the stock’s previous close. Wedbush also issued estimates for Genuine Parts’ Q1 2025 earnings at $2.15 EPS and Q2 2025 earnings at $2.47 EPS.

A number of other research analysts also recently issued reports on GPC. Truist Financial restated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday. The Goldman Sachs Group lowered their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, UBS Group cut their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Down 2.7 %

Genuine Parts stock opened at $113.11 on Wednesday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a market cap of $15.76 billion, a PE ratio of 12.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The business’s 50-day simple moving average is $137.72 and its two-hundred day simple moving average is $142.43.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the company posted $2.49 EPS. Genuine Parts’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that Genuine Parts will post 9.37 EPS for the current year.

Institutional Investors Weigh In On Genuine Parts

Institutional investors have recently added to or reduced their stakes in the stock. Hunter Associates Investment Management LLC lifted its holdings in Genuine Parts by 4.8% during the third quarter. Hunter Associates Investment Management LLC now owns 15,008 shares of the specialty retailer’s stock valued at $2,097,000 after purchasing an additional 693 shares in the last quarter. Concord Wealth Partners raised its position in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the last quarter. Hamlin Capital Management LLC lifted its stake in Genuine Parts by 12.3% in the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock valued at $82,561,000 after buying an additional 64,520 shares in the last quarter. Modera Wealth Management LLC boosted its holdings in Genuine Parts by 614.2% in the 3rd quarter. Modera Wealth Management LLC now owns 17,190 shares of the specialty retailer’s stock worth $2,401,000 after buying an additional 14,783 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in Genuine Parts by 0.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 51,714 shares of the specialty retailer’s stock worth $7,223,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds 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.