BidaskClub Downgrades Genuine Parts Company (NYSE:GPC) to Strong Sell
Genuine Parts Company (NYSE:GPC) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Monday.
A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) cut Genuine Parts from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $104.00 to $89.00 in a report on Thursday, July 6th. Royal Bank Of Canada restated a “hold” rating and set a $96.00 price objective on shares of Genuine Parts in a report on Thursday, May 25th. Jefferies Group LLC restated a “hold” rating and set a $95.00 price objective on shares of Genuine Parts in a report on Tuesday, April 18th. Finally, Wedbush restated a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $98.25.
Shares of Genuine Parts (NYSE:GPC) traded down 1.09% on Monday, reaching $81.81. The company had a trading volume of 966,366 shares. The company’s 50-day moving average is $89.08 and its 200 day moving average is $92.96. The firm has a market capitalization of $12.03 billion, a PE ratio of 17.71 and a beta of 1.06. Genuine Parts has a 12 month low of $80.86 and a 12 month high of $105.18.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings data 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. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that Genuine Parts will post $4.75 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This article was first published by Daily Political and is owned by of Daily Political. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.dailypolitical.com/2017/07/24/bidaskclub-downgrades-genuine-parts-company-nysegpc-to-strong-sell.html.
Several large investors have recently modified their holdings of GPC. Pinnacle Bank bought a new stake in shares of Genuine Parts during the first quarter valued at about $115,000. Global X Management Co. LLC boosted its stake in shares of Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 373 shares during the period. Washington Trust Bank boosted its stake in shares of Genuine Parts by 334.3% in the first quarter. Washington Trust Bank now owns 1,963 shares of the specialty retailer’s stock valued at $181,000 after buying an additional 1,511 shares during the period. Tompkins Financial Corp boosted its stake in shares of Genuine Parts by 146.7% in the first quarter. Tompkins Financial Corp now owns 1,875 shares of the specialty retailer’s stock valued at $186,000 after buying an additional 1,115 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Genuine Parts during the first quarter valued at about $208,000. Institutional investors and hedge funds own 73.20% of the company’s stock.
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.
Receive News & Ratings for Genuine Parts Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts Company and related companies with MarketBeat.com's FREE daily email newsletter.