Genuine Parts’ (GPC) Hold Rating Reiterated at Jefferies Group LLC
Genuine Parts Company (NYSE:GPC)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a research report issued on Thursday. They presently have a $95.00 target price on the specialty retailer’s stock. Jefferies Group LLC’s target price points to a potential downside of 0.90% from the stock’s previous close.
Several other research analysts have also recently weighed in on GPC. BidaskClub upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) cut shares of Genuine Parts from a “neutral” rating to a “sell” rating and reduced their price target for the company from $104.00 to $89.00 in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Royal Bank Of Canada boosted their price objective on shares of Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 26th. Finally, Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $96.33.
Shares of Genuine Parts (GPC) remained flat at $95.86 during midday trading on Thursday. 527,897 shares of the company traded hands. Genuine Parts has a 12 month low of $79.86 and a 12 month high of $100.90. The firm has a 50-day moving average of $89.69 and a 200 day moving average of $89.11. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of 20.75 and a beta of 1.10.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results 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 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 quarter in the prior year, the firm earned $1.28 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that Genuine Parts will post $4.73 EPS for the current year.
Genuine Parts declared that its board has initiated a stock repurchase program on Monday, August 21st that permits the company to buyback 15,000,000 shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
Institutional investors have recently added to or reduced their stakes in the business. Sun Life Financial INC raised its holdings in Genuine Parts by 15,400.0% during the 2nd quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock worth $101,000 after purchasing an additional 1,078 shares during the last quarter. Global X Management Co. LLC grew its position in Genuine Parts by 29.3% in the 1st quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock valued at $152,000 after purchasing an additional 373 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in Genuine Parts by 151.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock valued at $177,000 after purchasing an additional 1,147 shares during the period. Van ECK Associates Corp grew its position in Genuine Parts by 7.3% in the 1st quarter. Van ECK Associates Corp now owns 2,274 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 155 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Genuine Parts in the 1st quarter valued at $213,000. Hedge funds and other institutional investors own 74.43% of the company’s stock.
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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