Genuine Parts Company (NYSE:GPC) Upgraded at Gabelli

Gabelli upgraded shares of Genuine Parts Company (NYSE:GPC) from a hold rating to a buy rating in a report published on Friday, July 21st, MarketBeat.com reports. Gabelli currently has $101.00 target price on the specialty retailer’s stock. Gabelli also issued estimates for Genuine Parts’ FY2017 earnings at $4.75 EPS and FY2021 earnings at $5.85 EPS.

GPC has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Genuine Parts from a hold rating to a sell rating in a report on Friday, April 21st. Goldman Sachs Group, Inc. (The) downgraded shares of Genuine Parts from a neutral rating to a sell rating and lowered their target price for the company from $104.00 to $89.00 in a report on Thursday, July 6th. BidaskClub downgraded shares of Genuine Parts from a hold rating to a sell rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a hold rating and set a $95.00 price target on shares of Genuine Parts in a research report on Tuesday, April 18th. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $96.00 price target on shares of Genuine Parts in a research report on Thursday, May 25th. Three 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 stock has a consensus rating of Hold and a consensus price target of $96.86.

Shares of Genuine Parts (NYSE:GPC) traded up 0.13% during mid-day trading on Friday, reaching $81.60. 698,841 shares of the company’s stock traded hands. Genuine Parts has a 12-month low of $79.86 and a 12-month high of $105.18. The stock has a market capitalization of $11.98 billion, a PE ratio of 17.67 and a beta of 1.04. The company’s 50-day moving average price is $84.25 and its 200-day moving average price is $91.13.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.02. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 earnings per share. Analysts anticipate that Genuine Parts will post $4.73 earnings per share for the current year.

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Large investors have recently bought and sold shares of the company. Sun Life Financial INC increased its stake in Genuine Parts by 15,400.0% in the second quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 1,078 shares during the last quarter. Pinnacle Bank bought a new stake in Genuine Parts during the first quarter valued at $115,000. Global X Management Co. LLC increased its stake in 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 during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Genuine Parts by 151.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock worth $177,000 after buying an additional 1,147 shares during the last quarter. Finally, 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 worth $181,000 after buying an additional 1,511 shares during the last quarter. 73.51% of the stock is owned by institutional investors and hedge funds.

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.