BidaskClub Downgrades Genuine Parts Company (GPC) to Sell

Genuine Parts Company (NYSE:GPC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities analysts have also weighed in on GPC. Royal Bank Of Canada boosted their price objective on shares of Genuine Parts Company from $94.00 to $96.00 and gave the company a “sector perform” rating in a research report on Thursday, April 20th. Zacks Investment Research lowered shares of Genuine Parts Company from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $104.00 price objective (up previously from $98.00) on shares of Genuine Parts Company in a research report on Saturday, April 22nd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price objective on shares of Genuine Parts Company in a research report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $102.33.

Analyst Recommendations for Genuine Parts Company (NYSE:GPC)

Genuine Parts Company (GPC) traded up 1.19% during mid-day trading on Friday, hitting $90.74. 2,244,190 shares of the stock traded hands. The stock has a 50-day moving average price of $92.48 and a 200-day moving average price of $94.73. The stock has a market cap of $13.37 billion, a P/E ratio of 19.64 and a beta of 1.02. Genuine Parts Company has a 12 month low of $86.61 and a 12 month high of $105.97.

Genuine Parts Company (NYSE:GPC) last posted its quarterly earnings data on Wednesday, April 19th. The specialty retailer reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.85 billion. Genuine Parts Company had a net margin of 4.44% and a return on equity of 21.17%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 earnings per share. On average, equities analysts forecast that Genuine Parts Company will post $4.80 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, June 7th. Genuine Parts Company’s dividend payout ratio (DPR) is 58.44%.

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A number of institutional investors have recently modified their holdings of the company. Summit Global Investments bought a new position in shares of Genuine Parts Company during the fourth quarter valued at approximately $4,010,000. Cigna Investments Inc. New bought a new position in shares of Genuine Parts Company during the fourth quarter valued at approximately $524,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Genuine Parts Company by 5.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 35,565 shares of the specialty retailer’s stock valued at $3,406,000 after buying an additional 1,708 shares during the period. Guggenheim Capital LLC raised its position in shares of Genuine Parts Company by 11.6% in the fourth quarter. Guggenheim Capital LLC now owns 411,103 shares of the specialty retailer’s stock valued at $39,277,000 after buying an additional 42,722 shares during the period. Finally, Ellington Management Group LLC bought a new position in shares of Genuine Parts Company during the fourth quarter valued at approximately $344,000. 73.85% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Company 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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