Genuine Parts Company (GPC) Given Average Rating of “Hold” by Brokerages
Genuine Parts Company (NYSE:GPC) has been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $96.20.
GPC has been the topic of several recent research reports. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) lowered Genuine Parts from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $104.00 to $89.00 in a research report on Thursday, July 6th. BidaskClub lowered Genuine Parts from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Wedbush restated a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $96.00 price objective on shares of Genuine Parts in a research report on Thursday, May 25th.
Several hedge funds have recently made changes to their positions in the company. Haverford Financial Services Inc. raised its stake in shares of Genuine Parts by 0.6% during the 1st quarter. Haverford Financial Services Inc. now owns 3,281 shares of the specialty retailer’s stock worth $303,000 after buying an additional 20 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Genuine Parts by 0.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 7,359 shares of the specialty retailer’s stock worth $680,000 after buying an additional 23 shares during the period. Pennsylvania Trust Co raised its stake in shares of Genuine Parts by 0.7% during the 2nd quarter. Pennsylvania Trust Co now owns 3,183 shares of the specialty retailer’s stock worth $295,000 after buying an additional 23 shares during the period. BKS Advisors LLC raised its stake in shares of Genuine Parts by 1.3% during the 2nd quarter. BKS Advisors LLC now owns 2,580 shares of the specialty retailer’s stock worth $239,000 after buying an additional 33 shares during the period. Finally, RNC Capital Management LLC raised its stake in shares of Genuine Parts by 0.5% during the 1st quarter. RNC Capital Management LLC now owns 7,437 shares of the specialty retailer’s stock worth $687,000 after buying an additional 34 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.
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Genuine Parts (NYSE:GPC) traded up 0.30% during midday trading on Friday, reaching $86.65. 906,759 shares of the company’s stock were exchanged. Genuine Parts has a 52 week low of $79.86 and a 52 week high of $101.88. The firm’s 50 day moving average is $83.76 and its 200 day moving average is $89.26. The firm has a market capitalization of $12.72 billion, a price-to-earnings ratio of 18.76 and a beta of 1.06.
Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.02). Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the company posted $1.28 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Genuine Parts will post $4.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, September 7th. Genuine Parts’s payout ratio is 58.32%.
Genuine Parts declared that its Board of Directors has authorized a stock buyback program on Monday, August 21st that allows the company to buyback 15,000,000 shares. This buyback authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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.
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