BidaskClub upgraded shares of Genuine Parts Company (NYSE:GPC) from a strong sell rating to a sell rating in a research report sent to investors on Monday.
GPC has been the topic of a number of other research reports. Zacks Investment Research cut shares of Genuine Parts from a hold rating to a strong sell rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) cut shares of Genuine Parts from a neutral rating to a sell rating and lowered their price target for the stock from $104.00 to $89.00 in a report on Thursday, July 6th. Jefferies Group LLC reaffirmed a hold rating and issued a $95.00 price target on shares of Genuine Parts in a report on Tuesday, April 18th. Royal Bank Of Canada reaffirmed a hold rating and issued a $96.00 price target on shares of Genuine Parts in a report on Thursday, May 25th. Finally, Wedbush reaffirmed a neutral rating on shares of Genuine Parts in a report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $96.86.
Genuine Parts (GPC) traded down 0.38% during trading on Monday, hitting $84.11. The stock had a trading volume of 560,867 shares. Genuine Parts has a 1-year low of $80.86 and a 1-year high of $105.18. The firm has a market capitalization of $12.35 billion, a PE ratio of 18.21 and a beta of 1.05. The firm has a 50 day moving average price of $87.69 and a 200-day moving average price of $92.39.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. Genuine Parts’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. On average, equities research analysts expect that Genuine Parts will post $4.73 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Bank acquired a new stake in shares of Genuine Parts during the first quarter valued at about $115,000. Global X Management Co. LLC increased its stake in shares of Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 373 shares in the last quarter. Tompkins Financial Corp increased its stake in shares of Genuine Parts by 146.7% in the first quarter. Tompkins Financial Corp now owns 1,875 shares of the specialty retailer’s stock valued at $186,000 after buying an additional 1,115 shares in the last quarter. Washington Trust Bank increased its stake in shares of Genuine Parts by 334.3% in the first quarter. Washington Trust Bank now owns 1,963 shares of the specialty retailer’s stock valued at $181,000 after buying an additional 1,511 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Genuine Parts during the first quarter valued at about $208,000. Institutional investors and hedge funds own 73.21% of the company’s stock.
About Genuine Parts
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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