Genuine Parts Company (GPC) Cut to Strong Sell at Zacks Investment Research
Genuine Parts Company (NYSE:GPC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday.
According to Zacks, “Genuine Parts earnings missed the Zacks Consensus Estimate in the second quarter of 2017. However, revenues in the quarter rose year over year and beat the estimate. It is expected to face a short-term liquidity crisis at the time of declining sales, as approximately 53% of the current asset is locked in its merchandised inventory. Also, a continuous rise in selling, administrative & other expenses will create a further pressure on the financials of the company. Genuine Parts shares have also underperformed the industry it belongs to, in the last three months.”
A number of other equities analysts have also recently weighed in on GPC. Jefferies Group LLC reissued a “hold” rating and set a $95.00 price objective on shares of Genuine Parts in a report on Tuesday, April 18th. Royal Bank Of Canada raised their price objective on Genuine Parts from $94.00 to $96.00 and gave the company a “sector perform” rating in a report on Thursday, April 20th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $104.00 price objective (up from $98.00) on shares of Genuine Parts in a report on Saturday, April 22nd. BidaskClub raised Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. 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 presently has an average rating of “Hold” and a consensus price target of $98.25.
Genuine Parts (GPC) traded down 0.63% during mid-day trading on Monday, hitting $82.19. The stock had a trading volume of 407,174 shares. The company’s 50 day moving average price is $89.76 and its 200 day moving average price is $93.19. Genuine Parts has a 52 week low of $80.86 and a 52 week high of $105.18. The firm has a market cap of $12.09 billion, a PE ratio of 17.79 and a beta of 1.06.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.02. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. Analysts anticipate that Genuine Parts will post $4.75 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in GPC. Beacon Capital Management bought a new position in shares of Genuine Parts during the fourth quarter worth approximately $0. NN Investment Partners Holdings N.V. bought a new position in shares of Genuine Parts during the first quarter worth approximately $100,000. RPg Family Wealth Advisory LLC boosted its position in shares of Genuine Parts by 0.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,008 shares of the specialty retailer’s stock worth $100,000 after buying an additional 8 shares during the period. New York Life Trust Co. boosted its position in shares of Genuine Parts by 8.7% in the third quarter. New York Life Trust Co. now owns 1,048 shares of the specialty retailer’s stock worth $105,000 after buying an additional 84 shares during the period. Finally, Pinnacle Bank bought a new position in shares of Genuine Parts during the first quarter worth approximately $115,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.
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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