Genuine Parts (NYSE:GPC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Genuine Parts’ earnings missed the Zacks Consensus Estimate in the first quarter of 2018 while the revenues beat the same. Compared with the year-ago figures, both top and bottom lines were higher. A continuous rise in SG&A expenses might hamper the company’s gross margin figure. Also, high long-term debt and significant cash, locked in merchandised inventories, are few concerns for the company. In three months, shares of Genuine Parts have underperformed the industry it belongs to.”
Several other equities research analysts also recently weighed in on GPC. JPMorgan Chase reaffirmed a “neutral” rating and issued a $107.00 price objective (down previously from $114.00) on shares of Genuine Parts in a report on Wednesday, February 21st. Bank of America reduced their price objective on shares of Genuine Parts from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, February 21st. Royal Bank of Canada reduced their price objective on shares of Genuine Parts to $100.00 and set a “market perform” rating for the company in a report on Wednesday, February 21st. Finally, Guggenheim started coverage on shares of Genuine Parts in a report on Tuesday, April 17th. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Genuine Parts has an average rating of “Hold” and an average price target of $99.14.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 19th. The specialty retailer reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.05). The company had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.48 billion. Genuine Parts had a return on equity of 20.76% and a net margin of 3.73%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 EPS. analysts predict that Genuine Parts will post 5.64 EPS for the current year.
A number of institutional investors have recently modified their holdings of GPC. Trustcore Financial Services LLC bought a new stake in Genuine Parts in the fourth quarter worth about $107,000. Captrust Financial Advisors bought a new stake in Genuine Parts in the fourth quarter worth about $109,000. Valeo Financial Advisors LLC raised its position in Genuine Parts by 1,061.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,161 shares of the specialty retailer’s stock worth $110,000 after acquiring an additional 1,061 shares in the last quarter. Wagner Wealth Management LLC bought a new stake in Genuine Parts in the fourth quarter worth about $117,000. Finally, We Are One Seven LLC bought a new stake in Genuine Parts in the fourth quarter worth about $177,000. Hedge funds and other institutional investors own 75.47% 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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