SunTrust Lowers Genuine Parts Company to Neutral (GPC)
Genuine Parts Company (NYSE:GPC) was downgraded by equities researchers at SunTrust from a “buy” rating to a “neutral” rating in a research report issued on Wednesday. They currently have a $92.00 price target on the stock, down from their previous price target of $100.00. SunTrust’s price target suggests a potential upside of 4.78% from the company’s current price.
In other Genuine Parts Company news, CEO Thomas Gallagher bought 5,000 shares of Genuine Parts Company stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $84.00 per share, for a total transaction of $420,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on GPC. Analysts at Zacks reiterated a “neutral” rating on shares of Genuine Parts Company in a research note on Friday, August 22nd. They now have a $92.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Genuine Parts Company from $93.00 to $95.00 in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $90.20.
Genuine Parts Company (NYSE:GPC) traded down 0.02% on Wednesday, hitting $87.80. The stock had a trading volume of 307,292 shares. Genuine Parts Company has a one year low of $76.26 and a one year high of $90.00. The stock has a 50-day moving average of $85.71 and a 200-day moving average of $85.90. The company has a market cap of $13.441 billion and a price-to-earnings ratio of 20.01.
Genuine Parts Company (NYSE:GPC) last issued its quarterly earnings data on Monday, July 21st. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.26 by $0.02. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts expect that Genuine Parts Company will post $4.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials.
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