Jefferies Group LLC Reaffirms Hold Rating for Genuine Parts Company (GPC)
Genuine Parts Company (NYSE:GPC)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Group LLC in a research note issued on Sunday. They presently have a $95.00 price target on the specialty retailer’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 11.31% from the company’s current price.
A number of other research firms have also recently commented on GPC. BidaskClub raised Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Royal Bank Of Canada reissued a “hold” rating and set a $96.00 price target on shares of Genuine Parts in a report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) cut Genuine Parts from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $104.00 to $89.00 in a report on Thursday, July 6th. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Finally, Zacks Investment Research cut Genuine Parts from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $96.00.
Shares of Genuine Parts (GPC) opened at 85.35 on Friday. Genuine Parts has a one year low of $79.86 and a one year high of $101.88. The company has a market cap of $12.53 billion, a PE ratio of 18.48 and a beta of 1.06. The stock’s 50 day moving average price is $83.28 and its 200 day moving average price is $89.61.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.02. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the firm posted $1.28 EPS. Genuine Parts’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts predict that Genuine Parts will post $4.73 earnings per share for the current fiscal year.
Genuine Parts declared that its Board of Directors has initiated a share repurchase program on Monday, August 21st that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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Institutional investors and hedge funds have recently modified their holdings of the business. TLP Group LLC acquired a new position in Genuine Parts in the 1st quarter worth about $379,000. Girard Partners LTD. increased its holdings in Genuine Parts by 5.2% in the 2nd quarter. Girard Partners LTD. now owns 28,068 shares of the specialty retailer’s stock worth $2,604,000 after purchasing an additional 1,391 shares in the last quarter. Synovus Financial Corp increased its holdings in Genuine Parts by 10.1% in the 2nd quarter. Synovus Financial Corp now owns 263,927 shares of the specialty retailer’s stock worth $24,485,000 after purchasing an additional 24,129 shares in the last quarter. Hutner Capital Management Inc. increased its holdings in Genuine Parts by 3.3% in the 1st quarter. Hutner Capital Management Inc. now owns 23,344 shares of the specialty retailer’s stock worth $2,157,000 after purchasing an additional 739 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Genuine Parts by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 15,429,332 shares of the specialty retailer’s stock worth $1,425,824,000 after purchasing an additional 690,398 shares in the last quarter. 74.52% of the stock is 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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