Genuine Parts (GPC) Cut to Hold at ValuEngine

Genuine Parts (NYSE:GPC) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other brokerages also recently commented on GPC. Zacks Investment Research downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Bank of America downgraded Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Tuesday. Wedbush upped their target price on Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, July 20th. Finally, Royal Bank of Canada upped their target price on Genuine Parts to $99.00 and gave the company a “sector perform” rating in a report on Thursday, July 12th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $104.60.

GPC stock traded down $0.09 during midday trading on Thursday, hitting $97.83. The company had a trading volume of 1,664,317 shares, compared to its average volume of 870,790. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.33. Genuine Parts has a 52 week low of $84.71 and a 52 week high of $107.75. The company has a market capitalization of $14.43 billion, a P/E ratio of 21.08, a PEG ratio of 2.62 and a beta of 1.17.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, October 18th. The specialty retailer reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. Genuine Parts had a return on equity of 22.54% and a net margin of 3.99%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. As a group, equities analysts predict that Genuine Parts will post 5.65 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in Genuine Parts by 318.5% in the second quarter. Bank of America Corp DE now owns 7,036,209 shares of the specialty retailer’s stock worth $645,853,000 after purchasing an additional 5,354,849 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Genuine Parts by 23.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,533,815 shares of the specialty retailer’s stock worth $324,369,000 after purchasing an additional 667,620 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Genuine Parts in the second quarter worth $205,387,000. Schwab Charles Investment Management Inc. grew its stake in Genuine Parts by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 978,807 shares of the specialty retailer’s stock worth $89,845,000 after purchasing an additional 30,313 shares during the period. Finally, California Public Employees Retirement System grew its stake in Genuine Parts by 21.8% in the second quarter. California Public Employees Retirement System now owns 494,166 shares of the specialty retailer’s stock worth $45,359,000 after purchasing an additional 88,392 shares during the period. Institutional investors own 76.49% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.

Recommended Story: What is a stock split?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Genuine Parts (NYSE:GPC)

Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply