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.

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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.

Analyst Recommendations for Genuine Parts (NYSE:GPC)

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