BidaskClub downgraded shares of Genuine Parts Company (NYSE:GPC) from a sell rating to a strong sell rating in a research report released on Monday, July 24th.
GPC has been the topic of a number of other research reports. Zacks Investment Research lowered Genuine Parts from a hold rating to a strong sell rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) lowered Genuine Parts from a neutral rating to a sell rating and dropped their target price for the company from $104.00 to $89.00 in a report on Thursday, July 6th. Jefferies Group LLC restated a hold rating and issued a $95.00 target price on shares of Genuine Parts in a report on Tuesday, April 18th. Royal Bank Of Canada restated a hold rating and issued a $96.00 target price on shares of Genuine Parts in a report on Thursday, May 25th. Finally, Wedbush reiterated 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 assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $96.86.
Shares of Genuine Parts (NYSE GPC) traded down 0.27% during midday trading on Monday, hitting $83.88. The stock had a trading volume of 524,531 shares. Genuine Parts has a 52 week low of $80.86 and a 52 week high of $105.18. The firm has a market cap of $12.32 billion, a P/E ratio of 18.16 and a beta of 1.04. The company’s 50 day moving average is $87.69 and its 200 day moving average is $92.39.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts predict that Genuine Parts will post $4.73 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of GPC. Alethea Capital Management LLC acquired a new stake in shares of Genuine Parts during the second quarter worth approximately $1,794,000. Cadence Capital Management LLC raised its stake in shares of Genuine Parts by 52.2% in the second quarter. Cadence Capital Management LLC now owns 48,654 shares of the specialty retailer’s stock valued at $4,513,000 after buying an additional 16,693 shares during the last quarter. Boston Family Office LLC raised its stake in shares of Genuine Parts by 1.0% in the second quarter. Boston Family Office LLC now owns 10,166 shares of the specialty retailer’s stock valued at $943,000 after buying an additional 100 shares during the last quarter. BB&T Securities LLC raised its stake in shares of Genuine Parts by 14.6% in the second quarter. BB&T Securities LLC now owns 86,608 shares of the specialty retailer’s stock valued at $8,033,000 after buying an additional 11,062 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Genuine Parts by 4.3% in the second quarter. Blair William & Co. IL now owns 15,616 shares of the specialty retailer’s stock valued at $1,449,000 after buying an additional 649 shares during the last quarter. Institutional investors and hedge funds own 73.21% of the company’s stock.
Genuine Parts Company Profile
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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