Genuine Parts (NYSE:GPC) Hits New 1-Year Low at $90.27

Shares of Genuine Parts (NYSE:GPC) reached a new 52-week low on Monday . The company traded as low as $90.27 and last traded at $90.37, with a volume of 105552 shares. The stock had previously closed at $92.20.

A number of research analysts recently weighed in on the company. Jefferies Financial Group set a $102.00 target price on Genuine Parts and gave the stock a “hold” rating in a report on Friday, July 19th. Goldman Sachs Group assumed coverage on Genuine Parts in a report on Thursday, July 11th. They set a “neutral” rating and a $107.00 target price on the stock. ValuEngine lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Zacks Investment Research raised Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 target price on the stock in a report on Wednesday, July 24th. Finally, Stephens assumed coverage on Genuine Parts in a report on Thursday, May 30th. They set an “overweight” rating and a $114.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $105.75.

The company has a quick ratio of 0.68, a current ratio of 1.26 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $101.72. The stock has a market capitalization of $13.47 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 3.15 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Genuine Parts had a net margin of 4.17% and a return on equity of 23.16%. The firm had revenue of $4.93 billion during the quarter, compared to analyst estimates of $5 billion. During the same period in the prior year, the company earned $1.59 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Genuine Parts will post 5.7 earnings per share for the current year.

In other news, insider Scott Sonnemaker acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average cost of $99.01 per share, with a total value of $495,050.00. Following the acquisition, the insider now directly owns 5,000 shares in the company, valued at approximately $495,050. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. NEXT Financial Group Inc bought a new stake in shares of Genuine Parts during the 2nd quarter valued at $26,000. Cutler Group LP lifted its position in shares of Genuine Parts by 967.7% during the 1st quarter. Cutler Group LP now owns 269 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 300 shares during the period. Gables Capital Management Inc. lifted its position in shares of Genuine Parts by 125.0% during the 1st quarter. Gables Capital Management Inc. now owns 360 shares of the specialty retailer’s stock worth $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 1st quarter worth $41,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Genuine Parts during the 1st quarter worth $44,000. 76.69% of the stock is currently owned by hedge funds and other institutional investors.

About Genuine Parts (NYSE:GPC)

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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