Genuine Parts Co. (NYSE:GPC)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $101.14, but opened at $101.21. Genuine Parts shares last traded at $101.76, with a volume of 248,297 shares.

A number of brokerages recently issued reports on GPC. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a report on Wednesday, April 20th. Royal Bank Of Canada increased their price objective on Genuine Parts from $90.00 to $93.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 20th. Argus reissued a “buy” rating and issued a $108.00 price objective (up from $106.00) on shares of Genuine Parts in a report on Monday, July 25th. Wedbush reissued a “neutral” rating and issued a $98.00 price objective on shares of Genuine Parts in a report on Wednesday, July 20th. Finally, Sterne Agee CRT reissued a “neutral” rating on shares of Genuine Parts in a report on Monday, May 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $99.60.

The company’s 50 day moving average price is $101.29 and its 200 day moving average price is $96.08. The company has a market capitalization of $15.19 billion and a P/E ratio of 22.03.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm posted $1.28 earnings per share. Analysts forecast that Genuine Parts Co. will post $4.73 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Genuine Parts by 41.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 620,241 shares of the company’s stock valued at $53,275,000 after buying an additional 182,680 shares during the last quarter. I.G. Investment Management LTD. raised its stake in Genuine Parts by 58.3% in the fourth quarter. I.G. Investment Management LTD. now owns 285,000 shares of the company’s stock valued at $24,479,000 after buying an additional 105,000 shares during the last quarter. Morgan Stanley raised its stake in Genuine Parts by 14.8% in the fourth quarter. Morgan Stanley now owns 747,259 shares of the company’s stock valued at $64,183,000 after buying an additional 96,102 shares during the last quarter. BlackRock Advisors LLC raised its stake in Genuine Parts by 8.0% in the fourth quarter. BlackRock Advisors LLC now owns 816,897 shares of the company’s stock valued at $70,163,000 after buying an additional 60,305 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in Genuine Parts during the fourth quarter valued at $1,612,000.

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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