Genuine Parts Company (NYSE:GPC) – Research analysts at Wedbush decreased their Q3 2017 earnings estimates for shares of Genuine Parts in a research report issued on Friday. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings of $1.27 per share for the quarter, down from their previous forecast of $1.31. Wedbush has a “Neutral” rating on the stock. Wedbush also issued estimates for Genuine Parts’ Q4 2017 earnings at $1.08 EPS and FY2017 earnings at $4.72 EPS.
Other equities research analysts have also issued reports about the stock. Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research report on Friday. Jefferies Group LLC reiterated a “hold” rating and set a $95.00 target price on shares of Genuine Parts in a research report on Tuesday, April 18th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. BidaskClub upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $96.00 target price on shares of Genuine Parts in a research report on Thursday, May 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Genuine Parts presently has an average rating of “Hold” and an average price target of $98.25.
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Genuine Parts (NYSE GPC) opened at 81.81 on Monday. The firm has a 50-day moving average of $89.08 and a 200 day moving average of $92.96. Genuine Parts has a 12 month low of $80.86 and a 12 month high of $105.18. The firm has a market capitalization of $12.03 billion, a PE ratio of 17.71 and a beta of 1.06.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company posted $1.28 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pinnacle Bank acquired a new position in Genuine Parts during the first quarter valued at approximately $115,000. Global X Management Co. LLC increased its position in Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 373 shares during the period. Washington Trust Bank increased its position in Genuine Parts by 334.3% in the first quarter. Washington Trust Bank now owns 1,963 shares of the specialty retailer’s stock valued at $181,000 after buying an additional 1,511 shares during the period. Tompkins Financial Corp increased its position in Genuine Parts by 146.7% in the first quarter. Tompkins Financial Corp now owns 1,875 shares of the specialty retailer’s stock valued at $186,000 after buying an additional 1,115 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Genuine Parts during the first quarter valued at approximately $208,000. 73.20% of the stock is currently owned by hedge funds and other institutional investors.
About Genuine Parts
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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