JPMorgan Chase & Co. Lowers Genuine Parts (NYSE:GPC) Price Target to $135.00

Genuine Parts (NYSE:GPC) had its target price cut by stock analysts at JPMorgan Chase & Co. from $162.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 16.14% from the company’s current price.

GPC has been the topic of a number of other research reports. The Goldman Sachs Group lowered their price target 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. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. Finally, Wedbush lowered their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Performance

GPC opened at $116.24 on Tuesday. The firm has a fifty day moving average price of $138.64 and a 200 day moving average price of $142.82. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a market cap of $16.19 billion, a P/E ratio of 12.96 and a beta of 0.90. 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 issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm 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. The company’s revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Hedge Funds Weigh In On Genuine Parts

A number of institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Genuine Parts by 36.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,814 shares of the specialty retailer’s stock worth $1,951,000 after purchasing an additional 3,718 shares during the period. Highland Capital Management LLC purchased a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $4,216,000. Tectonic Advisors LLC boosted its position in shares of Genuine Parts by 6.3% during the 3rd quarter. Tectonic Advisors LLC now owns 2,761 shares of the specialty retailer’s stock worth $386,000 after purchasing an additional 164 shares during the period. Assenagon Asset Management S.A. raised its position in Genuine Parts by 8.5% in the third quarter. Assenagon Asset Management S.A. now owns 4,627 shares of the specialty retailer’s stock valued at $646,000 after purchasing an additional 361 shares during the period. Finally, IFM Investors Pty Ltd lifted its stake in Genuine Parts by 4.0% during the third quarter. IFM Investors Pty Ltd now owns 29,902 shares of the specialty retailer’s stock worth $4,177,000 after purchasing an additional 1,144 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

About Genuine Parts

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.