Genuine Parts (NYSE:GPC) has been assigned an average recommendation of "Buy" from the nine analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $96.57.
A number of research firms have weighed in on GPC. Zacks Investment Research downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating and set a $104.00 price target on the stock. in a research note on Monday, November 16th. JPMorgan Chase & Co. upgraded shares of Genuine Parts from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $90.00 to $117.00 in a research note on Monday, September 14th. TheStreet upgraded shares of Genuine Parts from a "c" rating to a "b" rating in a research note on Thursday, October 22nd. Royal Bank of Canada upped their target price on shares of Genuine Parts from $94.00 to $100.00 in a report on Tuesday, October 20th. Finally, Argus lifted their price target on shares of Genuine Parts from $84.00 to $105.00 in a report on Friday, August 14th.
In other news, Director John R. Holder acquired 2,200 shares of the company's stock in a transaction dated Wednesday, October 28th. The stock was bought at an average price of $91.72 per share, with a total value of $201,784.00. Following the completion of the acquisition, the director now owns 12,731 shares in the company, valued at approximately $1,167,687.32. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.00% of the company's stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Genuine Parts by 7.3% during the third quarter. BlackRock Inc. now owns 14,886,612 shares of the specialty retailer's stock valued at $1,416,760,000 after purchasing an additional 1,008,116 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Genuine Parts by 13.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,655,533 shares of the specialty retailer's stock valued at $404,846,000 after purchasing an additional 544,062 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Genuine Parts by 6.1% during the second quarter. Bank of America Corp DE now owns 1,992,258 shares of the specialty retailer's stock valued at $173,248,000 after purchasing an additional 114,497 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Genuine Parts by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 1,752,954 shares of the specialty retailer's stock valued at $166,073,000 after purchasing an additional 276,729 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc grew its stake in shares of Genuine Parts by 0.6% during the second quarter. Schafer Cullen Capital Management Inc now owns 1,261,387 shares of the specialty retailer's stock valued at $109,690,000 after purchasing an additional 8,120 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.
GPC opened at $96.96 on Friday. Genuine Parts has a fifty-two week low of $49.68 and a fifty-two week high of $107.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.23 and a quick ratio of 0.66. The firm's fifty day moving average price is $97.42 and its two-hundred day moving average price is $91.05. The company has a market capitalization of $13.99 billion, a P/E ratio of -72.36 and a beta of 1.07.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, October 22nd. The specialty retailer reported $1.63 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.48 by $0.15. Genuine Parts had a negative net margin of 1.10% and a positive return on equity of 23.26%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the company earned $1.50 earnings per share. The business's revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that Genuine Parts will post 5.08 EPS for the current fiscal year.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement parts, industrial parts and materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, Poland, the Netherlands, and Belgium. The company distributes automotive replacement parts for imported vehicles, hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine 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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