Wright Investors Service Inc. grew its stake in shares of Genuine Parts (NYSE:GPC) by 6.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,609 shares of the specialty retailer’s stock after purchasing an additional 438 shares during the quarter. Wright Investors Service Inc.’s holdings in Genuine Parts were worth $788,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. NEXT Financial Group Inc bought a new stake in shares of Genuine Parts during the second quarter valued at approximately $26,000. Cutler Group LP raised its position in shares of Genuine Parts by 967.7% during the first quarter. Cutler Group LP now owns 269 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Gables Capital Management Inc. raised its position in shares of Genuine Parts by 125.0% during the first quarter. Gables Capital Management Inc. now owns 360 shares of the specialty retailer’s stock valued at $40,000 after buying an additional 200 shares during the last quarter. Destination Wealth Management bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $41,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 76.85% of the company’s stock.
Several equities research analysts recently weighed in on GPC shares. JPMorgan Chase & Co. reduced their price target on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Goldman Sachs Group started coverage on shares of Genuine Parts in a research report on Thursday, July 11th. They issued a “neutral” rating and a $107.00 price target on the stock. Jefferies Financial Group set a $102.00 price target on shares of Genuine Parts and gave the stock a “hold” rating in a research report on Friday, July 19th. Stephens started coverage on shares of Genuine Parts in a research report on Thursday, May 30th. They issued an “overweight” rating and a $114.00 price target on the stock. Finally, Royal Bank of Canada set a $101.00 price target on shares of Genuine Parts and gave the stock a “hold” rating in a research report on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $105.75.
GPC traded down $0.05 during trading hours on Thursday, hitting $88.87. The company’s stock had a trading volume of 9,543 shares, compared to its average volume of 972,276. The firm has a 50-day moving average of $98.80. Genuine Parts has a 12 month low of $88.62 and a 12 month high of $115.20. The firm has a market cap of $13.02 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 3.05 and a beta of 0.92. The company has a current ratio of 1.26, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.08). Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Genuine Parts will post 5.7 earnings per share for the current year.
Genuine Parts Company Profile
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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