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Armstrong Advisory Group Inc. increased its stake in Genuine Parts by 63.8%, now holding 362 shares valued at $51,000. The company, which distributes automotive and industrial parts, reported a quarterly EPS of $1.88, missing estimates, with revenue of $6 billion, up 3% year-over-year. Analysts have a consensus "Hold" rating, with price targets ranging from $125 to $164.
17:06 23.10.2024
UBS has lowered its price target for Genuine Parts (NYSE:GPC) to $125 from $145, maintaining a Neutral rating due to disappointing third-quarter results and a challenging outlook. The company faced a $140 million impact from slower European sales and $40 million from disruptions, leading to a $0.36 EPS shortfall. Despite a 2.5% year-over-year sales increase to $6 billion, adjusted diluted EPS fell from $2.49 to $1.88 amid inflation and high interest rates, while the stock trades near its 52-week low.
15:40 23.10.2024
Genuine Parts Company specializes in automotive and industrial spare parts, with net sales comprising 61.7% from automotive and 38.3% from industrial sectors. Geographically, 66% of sales are in the United States, followed by Europe (15.7%), Australasia (9.3%), Canada (8.7%), and Mexico (0.3%).
15:32 23.10.2024
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