Genuine Parts Company (NYSE:GPC)‘s stock had its “hold” rating reiterated by investment analysts at Jefferies Group LLC in a report released on Sunday. They presently have a $95.00 target price on the specialty retailer’s stock. Jefferies Group LLC’s target price indicates a potential upside of 10.70% from the company’s previous close.
GPC has been the subject of a number of other research reports. BidaskClub upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) cut shares of Genuine Parts from a “neutral” rating to a “sell” rating and cut their price target for the stock from $104.00 to $89.00 in a research note on Thursday, July 6th. Royal Bank Of Canada restated a “hold” rating and set a $96.00 price target on shares of Genuine Parts in a research note on Thursday, May 25th. Zacks Investment Research cut shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $96.00.
Shares of Genuine Parts (GPC) opened at 85.82 on Friday. Genuine Parts has a 12 month low of $79.86 and a 12 month high of $101.88. The stock’s 50 day moving average price is $83.30 and its 200-day moving average price is $89.47. The firm has a market capitalization of $12.60 billion, a PE ratio of 18.58 and a beta of 1.06.
Genuine Parts (NYSE:GPC) last announced 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 business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 EPS. On average, equities analysts anticipate that Genuine Parts will post $4.73 earnings per share for the current fiscal year.
Genuine Parts declared that its board has initiated a share repurchase plan on Monday, August 21st that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Large investors have recently bought and sold shares of the company. Sun Life Financial INC raised its stake 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 acquiring an additional 1,078 shares during the last quarter. Global X Management Co. LLC raised its position in Genuine Parts by 29.3% in the 1st quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 373 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Genuine Parts by 151.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock worth $177,000 after purchasing an additional 1,147 shares during the last quarter. Van ECK Associates Corp raised its position in Genuine Parts by 7.3% in the 1st quarter. Van ECK Associates Corp now owns 2,274 shares of the specialty retailer’s stock worth $210,000 after purchasing an additional 155 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in Genuine Parts in the 1st quarter worth approximately $213,000. Institutional investors own 74.52% 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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