Genuine Parts Company (GPC) Rating Increased to Sell at BidaskClub
BidaskClub upgraded shares of Genuine Parts Company (NYSE:GPC) from a strong sell rating to a sell rating in a research report report published on Monday.
A number of other equities research analysts have also recently issued reports on the stock. Goldman Sachs Group, Inc. (The) cut shares of Genuine Parts from a neutral rating to a sell rating and dropped their target price for the stock from $104.00 to $89.00 in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Genuine Parts from a sell rating to a hold rating in a research report on Tuesday, April 11th. Wedbush reissued a neutral rating on shares of Genuine Parts in a report on Thursday, July 6th. Royal Bank Of Canada reissued a hold rating and set a $96.00 price objective on shares of Genuine Parts in a report on Thursday, May 25th. Finally, Jefferies Group LLC reissued a hold rating and set a $95.00 price objective on shares of Genuine Parts in a report on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $96.86.
Genuine Parts (GPC) traded down 0.27% on Monday, reaching $83.88. 524,531 shares of the company’s stock were exchanged. Genuine Parts has a 12 month low of $80.86 and a 12 month high of $105.18. The firm has a 50-day moving average of $87.69 and a 200-day moving average of $92.39. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 18.16 and a beta of 1.04.
Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (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 analyst estimates of $4.05 billion. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 EPS. On average, equities analysts expect that Genuine Parts will post $4.73 earnings per share for the current year.
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A number of large investors have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in shares of Genuine Parts by 6.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,290 shares of the specialty retailer’s stock worth $506,000 after buying an additional 340 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Genuine Parts by 12.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 517,188 shares of the specialty retailer’s stock worth $49,413,000 after buying an additional 56,636 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of Genuine Parts during the fourth quarter worth approximately $1,031,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Genuine Parts during the fourth quarter worth approximately $460,000. Finally, Macquarie Group Ltd. raised its stake in shares of Genuine Parts by 21.1% in the fourth quarter. Macquarie Group Ltd. now owns 8,600 shares of the specialty retailer’s stock worth $822,000 after buying an additional 1,500 shares in the last quarter. 73.21% of the stock is currently owned by hedge funds and other institutional investors.
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.
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