Goldman Sachs Maintains Sell on Genuine Parts (GPC)

Article Related Press Releases (1) Related Articles (1) Stock Quotes (1) Comments (0)

Goldman Sachs today maintained a Sell rating on Genuine Parts (NYSE: GPC) and raised its price target to $67.00 (from $65.00). Yesterday Genuine Parts Co. reported Q4 EPS of $1.03, $0.10 better than the analyst estimate of $0.93. Revenue for the quarter came in at $3.12 billion versus the consensus estimate of $3.19 billion.

"A calendar shift that reportedly hurt 3Q failed to provide a meaningful boost to 4Q, as a holiday timing shift offset projected benefits, and underlying top-line trends slowed sequentially within the automotive, industrial and electrical segments," said analyst Matthew J. Fassler.

"Moreover, quality was not optimal as margins within the auto segment were impacted by one-time inventory gains (not quantified) and overall margins were positively impacted by a reversal of bad debt expense," added the analyst.

Overall Fassler think valuation will remain subdued.

For an analyst ratings summary and ratings history on Genuine Parts (NYSE: GPC) click here. For more ratings news on Genuine Parts click here.

Shares of Genuine Parts closed at $68.75 yesterday, with a 52 week range of $55.58-$71.44.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
• UPDATE: Macquarie Downgrades Barrick Gold (ABX) to Underperform
• Wells Fargo Upgrades Rosetta Resources (ROSE) to Outperform, Shares Attractive

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Goldman Sachs

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?