Royal Bank of Canada set a $101.00 price objective on Genuine Parts (NYSE:GPC) in a report released on Friday, TipRanks reports. The firm currently has a hold rating on the specialty retailer’s stock.
A number of other analysts have also commented on GPC. Zacks Investment Research raised GALP ENERGIA SG/ADR from a sell rating to a hold rating in a report on Monday, May 27th. Goldman Sachs Group raised Altria Group from a neutral rating to a buy rating and set a $59.00 target price for the company in a report on Thursday, July 11th. Jefferies Financial Group set a $130.00 target price on American Express and gave the stock a hold rating in a report on Friday. Stephens assumed coverage on Genuine Parts in a report on Thursday, May 30th. They issued an overweight rating and a $114.00 target price for the company. Finally, JPMorgan Chase & Co. reissued a sell rating and issued a $18.00 target price on shares of ABB in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $105.88.
NYSE:GPC traded up $1.20 during trading hours on Friday, reaching $97.00. 944,568 shares of the company traded hands, compared to its average volume of 875,874. The firm has a market capitalization of $13.90 billion, a PE ratio of 17.08, a P/E/G ratio of 3.26 and a beta of 0.94. The firm has a 50-day moving average price of $102.69. Genuine Parts has a 1 year low of $91.04 and a 1 year high of $115.20. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, July 18th. The specialty retailer reported $1.57 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.08). The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5 billion. Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 EPS. As a group, analysts anticipate that Genuine Parts will post 5.69 EPS for the current fiscal year.
In other news, insider Scott Sonnemaker acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of $99.01 per share, with a total value of $495,050.00. Following the completion of the acquisition, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $495,050. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of GPC. Norges Bank bought a new stake in shares of Genuine Parts in the fourth quarter worth $132,716,000. Thoroughbred Financial Services LLC grew its holdings in Genuine Parts by 10,307.9% during the second quarter. Thoroughbred Financial Services LLC now owns 536,528 shares of the specialty retailer’s stock valued at $53,653,000 after purchasing an additional 531,373 shares during the period. Millennium Management LLC grew its holdings in Genuine Parts by 137.4% during the fourth quarter. Millennium Management LLC now owns 859,401 shares of the specialty retailer’s stock valued at $82,520,000 after purchasing an additional 497,425 shares during the period. Ronna Sue Cohen grew its holdings in Genuine Parts by 11,103.0% during the first quarter. Ronna Sue Cohen now owns 385,943 shares of the specialty retailer’s stock valued at $386,000 after purchasing an additional 382,498 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Genuine Parts by 2,181.6% during the first quarter. Acadian Asset Management LLC now owns 290,034 shares of the specialty retailer’s stock valued at $32,492,000 after purchasing an additional 277,322 shares during the period. 76.34% of the stock is owned by institutional investors.
About Genuine Parts
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. 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; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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