Genuine Parts (GPC) Now Covered by Moffett Nathanson

Equities researchers at Moffett Nathanson started coverage on shares of Genuine Parts (NYSE:GPC) in a research note issued to investors on Monday. The firm set a “sell” rating on the specialty retailer’s stock.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Gabelli reissued a “buy” rating on shares of Genuine Parts in a research report on Friday, October 20th. Royal Bank Of Canada lowered their target price on shares of Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, October 20th. Finally, Jefferies Group reissued a “hold” rating and set a $95.00 target price on shares of Genuine Parts in a research report on Thursday, October 12th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $96.00.

Genuine Parts (NYSE:GPC) opened at $94.16 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.62 and a debt-to-equity ratio of 0.16. The company has a market cap of $13,775.81, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 3.59 and a beta of 1.12. Genuine Parts has a 1 year low of $79.86 and a 1 year high of $100.90.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.12). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $4.10 billion. Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The company’s quarterly revenue was down 72.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. equities analysts anticipate that Genuine Parts will post 4.58 EPS for the current fiscal year.

Genuine Parts announced that its Board of Directors has initiated a stock buyback plan on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Large investors have recently modified their holdings of the company. Sun Life Financial INC grew its position in shares of 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 purchasing an additional 1,078 shares during the last quarter. Horan Capital Advisors LLC. acquired a new stake in Genuine Parts during the third quarter worth about $134,000. Global X Management Co. LLC grew its position in Genuine Parts by 14.4% during the second quarter. Global X Management Co. LLC now owns 1,880 shares of the specialty retailer’s stock worth $174,000 after buying an additional 236 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in Genuine Parts by 151.1% during 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 in the last quarter. Finally, IBM Retirement Fund acquired a new stake in Genuine Parts during the third quarter worth about $200,000. 76.03% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Genuine Parts (NYSE:GPC)

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