Genuine Parts (NYSE:GPC) Given New $162.00 Price Target at JPMorgan Chase & Co.

Genuine Parts (NYSE:GPC) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $157.00 to $162.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 13.18% from the stock’s previous close.

GPC has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Wedbush cut their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Truist Financial restated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Evercore ISI decreased their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $157.29.

Genuine Parts Trading Up 1.9 %

Shares of NYSE:GPC traded up $2.73 during trading on Wednesday, hitting $143.14. The company had a trading volume of 253,513 shares, compared to its average volume of 957,475. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 15.98 and a beta of 0.90. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The company has a fifty day simple moving average of $138.63 and a two-hundred day simple moving average of $143.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same period in the previous year, the business earned $2.44 earnings per share. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts forecast that Genuine Parts will post 9.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. boosted its position in shares of Genuine Parts by 2.9% during the third quarter. Vontobel Holding Ltd. now owns 4,927 shares of the specialty retailer’s stock worth $688,000 after buying an additional 137 shares during the period. Leisure Capital Management boosted its holdings in Genuine Parts by 3.2% in the third quarter. Leisure Capital Management now owns 8,805 shares of the specialty retailer’s stock valued at $1,230,000 after purchasing an additional 276 shares during the period. McKinley Carter Wealth Services Inc. boosted its holdings in Genuine Parts by 6.3% in the third quarter. McKinley Carter Wealth Services Inc. now owns 9,770 shares of the specialty retailer’s stock valued at $1,365,000 after purchasing an additional 579 shares during the period. Ullmann Wealth Partners Group LLC purchased a new position in Genuine Parts in the third quarter valued at $406,000. Finally, Birch Capital Management LLC boosted its holdings in Genuine Parts by 22.7% in the third quarter. Birch Capital Management LLC now owns 21,824 shares of the specialty retailer’s stock valued at $3,048,000 after purchasing an additional 4,036 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.