Moffett Nathanson started coverage on shares of Genuine Parts (NYSE:GPC) in a note issued to investors on Monday. The brokerage set a “sell” rating on the specialty retailer’s stock.
GPC has been the subject of a number of other research reports. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Gabelli reiterated a “buy” rating on shares of Genuine Parts in a research note on Friday, October 20th. Jefferies Group reiterated a “hold” rating and set a $95.00 price target on shares of Genuine Parts in a research note on Sunday, September 10th. Finally, Royal Bank Of Canada lifted their price target on Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 26th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $96.00.
Shares of Genuine Parts (GPC) traded down $0.11 during trading on Monday, reaching $92.86. The company had a trading volume of 1,098,600 shares, compared to its average volume of 850,428. Genuine Parts has a twelve month low of $79.86 and a twelve month high of $100.90. The company has a market cap of $13,614.53, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 3.55 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.62.
Genuine Parts declared that its Board of Directors has authorized a share repurchase program on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Genuine Parts by 8.8% in the 2nd quarter. BlackRock Inc. now owns 15,716,092 shares of the specialty retailer’s stock worth $1,457,825,000 after buying an additional 1,273,864 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Genuine Parts by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 15,648,183 shares of the specialty retailer’s stock worth $1,451,526,000 after buying an additional 218,851 shares during the last quarter. State Street Corp lifted its stake in Genuine Parts by 0.7% in the second quarter. State Street Corp now owns 8,733,760 shares of the specialty retailer’s stock valued at $810,144,000 after purchasing an additional 61,398 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Genuine Parts by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 7,180,911 shares of the specialty retailer’s stock valued at $683,552,000 after purchasing an additional 30,007 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Genuine Parts by 44.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,758,715 shares of the specialty retailer’s stock valued at $361,034,000 after purchasing an additional 1,160,200 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.
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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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