Genuine Parts Company (GPC) is Downgraded by Gabelli & Co to Hold, Price Target at $106

Genuine Parts Company (GPC) was Downgraded by Gabelli & Co to ” Hold” and the brokerage firm has set the Price Target at $106. Earlier the firm had a rating of “Buy ” on the company shares. Gabelli & Co advised their investors in a research report released on Jul 14, 2016.

Many Wall Street Analysts have commented on Genuine Parts Company. Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 93 from a previous price target of $90 .

On the company’s financial health, Genuine Parts Company reported $1.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.03. The company had revenue of $3718.30 million for the quarter, compared to analysts expectations of $3719.75 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.05 EPS.

Genuine Parts Company closed down -0.82 points or -0.78% at $104.36 with 7,71,207 shares getting traded on Wednesday. Post opening the session at $105.56, the shares hit an intraday low of $104.005 and an intraday high of $105.56 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 9, 2016, Timothy P Breen (Executive Vice President) sold 700 shares at $98.05 per share price. According to the SEC, on Feb 19, 2016, Wendy B Needham (director) sold 3,000 shares at $90.61 per share price. On Nov 13, 2015, Thomas Gallagher (CEO) purchased 3,000 shares at $86.86 per share price, according to the Form-4 filing with the securities and exchange commission.

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 operates through four segments: Automotive Parts Group which distributes automotive parts and accessory items; Industrial Parts Group which distributes industrial replacement parts and related supplies; Office Products Group which is engaged in the wholesale distribution of a line of office and other business related products and Electrical/Electronic Materials Group which distributes materials to more than 20000 electrical and electronic manufacturers as well as industrial assembly and specialty wire and cable markets in North America. In 2014 the Company’s business was conducted from approximately 2600 locations throughout the United States Canada Mexico Australia and New Zealand.

Genuine Parts Company

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