Genuine Parts Company Upgraded to “Neutral” by Goldman Sachs (GPC)
Genuine Parts Company (NYSE:GPC) was upgraded by equities researchers at Goldman Sachs from a “sell” rating to a “neutral” rating in a research report issued on Wednesday, AR Network reports. The firm currently has a $88.00 price target on the stock, up from their previous price target of $84.00. Goldman Sachs’ target price points to a potential upside of 3.68% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Genuine Parts Company from an “underperform” rating to a “neutral” rating in a research note on Wednesday, March 12th. They now have a $91.00 price target on the stock. Separately, analysts at Ned Davis Research downgraded shares of Genuine Parts Company from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. Finally, analysts at RBC Capital raised their price target on shares of Genuine Parts Company from $82.00 to $91.00 in a research note on Wednesday, February 19th. They now have a “sector perform” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $86.00.
Genuine Parts Company (NYSE:GPC) opened at 85.20 on Wednesday. Genuine Parts Company has a 52-week low of $71.87 and a 52-week high of $90.00. The stock has a 50-day moving average of $86.04 and a 200-day moving average of $82.82. The company has a market cap of $13.098 billion and a P/E ratio of 19.29.
Genuine Parts Company (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.93 by $0.04. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.43 billion. On average, analysts predict that Genuine Parts Company will post $4.60 earnings per share for the current fiscal year.
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.