Genuine Parts Company (GPC) was Initiated by Susquehanna to “Neutral” and the brokerage firm has set the Price Target at $102. Susquehanna advised their investors in a research report released on Aug 26, 2016.
Many Wall Street Analysts have commented on Genuine Parts Company. Genuine Parts Company was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Gabelli & Co Downgraded Genuine Parts Company on Jul 14, 2016 to ” Hold”, Price Target of the shares are set at $106.
On the company’s financial health, Genuine Parts Company reported $1.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $1.29. The company had revenue of $3899.60 million for the quarter, compared to analysts expectations of $3975.85 million. The company’s revenue was down -1.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.28 EPS.
Genuine Parts Company opened for trading at $103 and hit $104.12 on the upside on Tuesday, eventually ending the session at $104.03, with a gain of 1.03% or 1.06 points. The heightened volatility saw the trading volume jump to 6,63,956 shares. Company has a market cap of $15,492 M.
Investors should note that on Aug 15, 2016, Genuine Parts Company announced a cash dividend of $0.6575. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.
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.