Royal Bank of Canada Reaffirms “Hold” Rating for Genuine Parts Company (GPC)
Genuine Parts Company (NYSE:GPC)‘s stock had its “hold” rating restated by investment analysts at Royal Bank of Canada in a research note issued to investors on Thursday. They presently have a $96.00 target price on the specialty retailer’s stock. Royal Bank of Canada’s target price suggests a potential upside of 6.47% from the stock’s previous close.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Genuine Parts Company from a “sell” rating to a “hold” rating in a report on Tuesday, February 14th. Goldman Sachs Group Inc reiterated a “neutral” rating and set a $104.00 target price (up previously from $98.00) on shares of Genuine Parts Company in a research note on Saturday, April 22nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $95.00 price target on shares of Genuine Parts Company in a research report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $102.33.
Genuine Parts Company (NYSE:GPC) traded up 1.32% during midday trading on Thursday, reaching $91.36. 640,746 shares of the company’s stock were exchanged. The firm has a market capitalization of $13.47 billion, a P/E ratio of 19.77 and a beta of 0.93. The stock’s 50 day moving average is $91.61 and its 200 day moving average is $94.97. Genuine Parts Company has a 52 week low of $86.61 and a 52 week high of $105.97.
Genuine Parts Company (NYSE:GPC) last posted its earnings results on Wednesday, April 19th. The specialty retailer reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. Genuine Parts Company had a net margin of 4.57% and a return on equity of 21.43%. The business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts expect that Genuine Parts Company will post $4.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Wednesday, June 7th. Genuine Parts Company’s dividend payout ratio is presently 56.68%.
TRADEMARK VIOLATION WARNING: This news story was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/05/25/royal-bank-of-canada-reaffirms-hold-rating-for-genuine-parts-company-gpc.html.
A number of hedge funds have recently bought and sold shares of the stock. Wealthsource Partners LLC purchased a new stake in Genuine Parts Company during the third quarter worth approximately $423,000. First Business Financial Services Inc. purchased a new stake in Genuine Parts Company during the third quarter worth approximately $539,000. First National Trust Co. raised its stake in Genuine Parts Company by 9.3% in the third quarter. First National Trust Co. now owns 29,580 shares of the specialty retailer’s stock worth $2,971,000 after buying an additional 2,527 shares in the last quarter. Girard Partners LTD. raised its stake in Genuine Parts Company by 13.1% in the third quarter. Girard Partners LTD. now owns 18,993 shares of the specialty retailer’s stock worth $1,908,000 after buying an additional 2,206 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. raised its stake in Genuine Parts Company by 10.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 55,934 shares of the specialty retailer’s stock worth $5,619,000 after buying an additional 5,076 shares in the last quarter. 71.75% of the stock is owned by institutional investors.
About Genuine Parts Company
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.