Analysts Set Genuine Parts Co. (GPC) Target Price at $96.63
Shares of Genuine Parts Co. (NYSE:GPC) have received an average recommendation of “Hold” from the ten analysts that are currently covering the company. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $96.63.
A number of brokerages recently weighed in on GPC. Wedbush lowered their target price on shares of Genuine Parts from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, October 19th. Argus restated a “buy” rating and set a $108.00 target price (up from $106.00) on shares of Genuine Parts in a report on Monday, July 25th. Zacks Investment Research downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Jefferies Group restated a “hold” rating and set a $95.00 target price (down from $105.00) on shares of Genuine Parts in a report on Wednesday, October 19th. Finally, Susquehanna began coverage on shares of Genuine Parts in a research report on Thursday, August 25th. They set a “neutral” rating and a $102.00 price objective for the company.
Genuine Parts (NYSE:GPC) opened at 94.62 on Friday. The firm has a market cap of $14.07 billion, a PE ratio of 20.45 and a beta of 0.91. The stock has a 50 day moving average of $94.43 and a 200-day moving average of $98.12. Genuine Parts has a 52 week low of $76.50 and a 52 week high of $105.97.
Genuine Parts (NYSE:GPC) last issued its earnings results on Wednesday, October 19th. The company reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.29 by $0.05. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.03 billion. Genuine Parts had a return on equity of 21.43% and a net margin of 4.57%. Genuine Parts’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Analysts expect that Genuine Parts will post $4.58 earnings per share for the current year.
In other Genuine Parts news, Chairman Thomas Gallagher bought 3,000 shares of Genuine Parts stock in a transaction dated Thursday, October 20th. The stock was bought at an average price of $89.24 per share, with a total value of $267,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of GPC. New York Life Trust Co. increased its position in Genuine Parts by 8.7% in the third quarter. New York Life Trust Co. now owns 1,048 shares of the company’s stock worth $105,000 after buying an additional 84 shares during the period. Invictus RG bought a new position in Genuine Parts during the second quarter worth approximately $136,000. Global X Management Co. LLC increased its position in Genuine Parts by 82.3% in the third quarter. Global X Management Co. LLC now owns 1,440 shares of the company’s stock worth $145,000 after buying an additional 650 shares during the period. Van ECK Associates Corp increased its position in Genuine Parts by 30.3% in the second quarter. Van ECK Associates Corp now owns 1,467 shares of the company’s stock worth $149,000 after buying an additional 341 shares during the period. Finally, FTB Advisors Inc. increased its position in Genuine Parts by 50.0% in the second quarter. FTB Advisors Inc. now owns 1,500 shares of the company’s stock worth $152,000 after buying an additional 500 shares during the period. 71.56% 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.
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