FY2017 EPS Estimates for Genuine Parts Company (NYSE:GPC) Reduced by Gabelli
Genuine Parts Company (NYSE:GPC) – Stock analysts at Gabelli decreased their FY2017 earnings estimates for shares of Genuine Parts in a research report issued to clients and investors on Friday. Gabelli analyst B. Sponheimer now expects that the specialty retailer will post earnings per share of $4.75 for the year, down from their prior estimate of $4.85. Gabelli has a “Buy” rating and a $101.00 price target on the stock. Gabelli also issued estimates for Genuine Parts’ FY2021 earnings at $5.85 EPS.
A number of other brokerages have also weighed in on GPC. BidaskClub lowered Genuine Parts from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Royal Bank Of Canada lifted their price objective on Genuine Parts from $94.00 to $96.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 20th. Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $104.00 price objective (up from $98.00) on shares of Genuine Parts in a research report on Saturday, April 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $98.25.
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Genuine Parts (NYSE:GPC) opened at 82.71 on Monday. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of 17.91 and a beta of 1.06. Genuine Parts has a 52 week low of $80.86 and a 52 week high of $105.18. The firm has a 50-day moving average price of $89.76 and a 200 day moving average price of $93.19.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the firm posted $1.28 earnings per share. Genuine Parts’s quarterly revenue was up 5.1% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TLP Group LLC purchased a new position in Genuine Parts during the first quarter worth approximately $379,000. Union Bankshares Corp boosted its position in Genuine Parts by 1.6% in the first quarter. Union Bankshares Corp now owns 38,733 shares of the specialty retailer’s stock worth $3,579,000 after buying an additional 623 shares during the last quarter. Integrated Wealth Management boosted its position in Genuine Parts by 2.0% in the first quarter. Integrated Wealth Management now owns 2,618 shares of the specialty retailer’s stock worth $242,000 after buying an additional 52 shares during the last quarter. Hartford Financial Management Inc. boosted its position in Genuine Parts by 0.9% in the first quarter. Hartford Financial Management Inc. now owns 17,166 shares of the specialty retailer’s stock worth $1,586,000 after buying an additional 150 shares during the last quarter. Finally, Beacon Financial Group boosted its position in Genuine Parts by 0.9% in the first quarter. Beacon Financial Group now owns 57,027 shares of the specialty retailer’s stock worth $5,265,000 after buying an additional 520 shares during the last quarter. Institutional investors 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.
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