Genuine Parts Company (NYSE:GPC) was upgraded by equities research analysts at Gabelli from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

GPC has been the topic of several other research reports. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research note on Tuesday, April 11th. BidaskClub raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $104.00 target price (up previously from $98.00) on shares of Genuine Parts in a report on Saturday, April 22nd. Royal Bank Of Canada boosted their target price on shares of Genuine Parts from $94.00 to $96.00 and gave the company a “sector perform” rating in a report on Thursday, April 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $95.00 target price on shares of Genuine Parts in a report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $97.86.

Shares of Genuine Parts (GPC) traded up 1.25% during trading on Friday, hitting $82.71. The stock had a trading volume of 1,685,375 shares. The company has a market capitalization of $12.19 billion, a price-to-earnings ratio of 17.90 and a beta of 1.07. Genuine Parts has a 52 week low of $80.86 and a 52 week high of $105.18. The company’s 50 day moving average price is $89.76 and its 200 day moving average price is $93.19.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing the consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.11%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the company posted $1.28 EPS. Genuine Parts’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts predict that Genuine Parts will post $4.78 earnings per share for the current year.

WARNING: This story was originally posted by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/07/22/genuine-parts-company-nysegpc-rating-increased-to-buy-at-gabelli.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPC. Wright Investors Service Inc. boosted its position in Genuine Parts by 40.9% in the second quarter. Wright Investors Service Inc. now owns 6,721 shares of the specialty retailer’s stock valued at $623,000 after buying an additional 1,950 shares during the last quarter. Sabal Trust CO boosted its position in Genuine Parts by 6.9% in the second quarter. Sabal Trust CO now owns 229,896 shares of the specialty retailer’s stock valued at $21,325,000 after buying an additional 14,810 shares during the last quarter. Schmidt P J Investment Management Inc. boosted its position in Genuine Parts by 0.9% in the second quarter. Schmidt P J Investment Management Inc. now owns 30,044 shares of the specialty retailer’s stock valued at $2,787,000 after buying an additional 265 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in Genuine Parts by 31.8% in the second quarter. Manning & Napier Advisors LLC now owns 39,903 shares of the specialty retailer’s stock valued at $3,701,000 after buying an additional 9,623 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in Genuine Parts by 0.4% in the second quarter. Whittier Trust Co. now owns 55,032 shares of the specialty retailer’s stock valued at $5,105,000 after buying an additional 227 shares during the last quarter. 73.18% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Company Profile

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)

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.