|Over a week ago|
Genuine Parts upgraded to Neutral from Sell at Goldman Sachs » 08:0505/0405/04/21
Goldman Sachs analyst…
Goldman Sachs analyst Kate McShane upgraded Group 1 Automotive to Neutral from Sell with a price target of $125, up from $113. As the country moves towards normalization with immunizations picking up, the auto parts retailers will benefit from an economic re-opening, despite strong comps in auto parts retail in 2020, McShane tells investors in a research note. Further, in a highly inflationary environment, the auto parts space is preferred given its "unique ability" to pass-through higher costs to customers, says the analyst. McShane believes the stocks have not traded like other re-opening trade names, with valuations currently at a "sharp discount" to the historical averages.
Genuine Parts price target raised to $140 from $109 at Argus » 08:1504/2804/28/21
Argus analyst Kristina…
Argus analyst Kristina Ruggeri raised the firm's price target on Genuine Parts to $140 from $109 and keeps a Buy rating on the shares after its Q1 earnings beat. The company's portfolio optimization strategy positions it well for higher margins and global business expansion while its strong balance sheet provides resources to invest in these efforts and to enhance earnings with small bolt-on acquisitions, the analyst tells investors in a research note.
Genuine Parts price target raised to $140 from $115 at JPMorgan » 07:3404/2604/26/21
JPMorgan analyst Christopher Horvers raised the firm's price target on Genuine Parts to $140 from $115 and reiterates an Overweight rating on the shares. The analyst says the thesis is on track following the company's Q1 beat and increased 2021 outlook.
Genuine Parts price target raised to $129 from $115 at RBC Capital » 06:4204/2304/23/21
RBC Capital analyst Scot…
RBC Capital analyst Scot Ciccarelli raised the firm's price target on Genuine Parts to $129 from $115 and keeps a Sector Perform rating on the shares. The company's Q1 beat was driven by the "sharply positive" U.S. auto comps amid "improving" commercial sales and the "still robust" DIY trends, the analyst tells investors in a research note.
Genuine Parts CEO expects to build on 'positive momentum' through 2021 » 08:2404/2204/22/21
CEO Paul Donahue stated,…
CEO Paul Donahue stated, "Our positive sales growth was driven by a number of factors, including the overall strengthening economy, stimulus and execution of key initiatives. The Automotive business posted our strongest growth, with positive sales comps in each region of our operations, and Industrial continued its recovery with the third consecutive quarter of improving sales trends. In addition, we executed very well, producing our 14th consecutive quarter of gross margin expansion and managing our expenses through ongoing cost actions and the carryover of expense reductions implemented last year. Our progress in these areas drove a substantial increase in operating profit and net earnings, and we expect to build on this positive momentum as we move forward through the year."
Genuine Parts raises FY21 EPS view to $5.85-$6.05 from $5.55-$5.75 » 08:2204/2204/22/21
FY21 consensus $5.72.…
FY21 consensus $5.72. Raises FY21 total sales growth view to 5%-7% from 4%-6%, consensus $17.44B.
Genuine Parts reports Q1 EPS $1.50, consensus $1.14 » 08:2004/2204/22/21
Reports Q1 revenue $4.5B,…
Reports Q1 revenue $4.5B, consensus $4.3B.
Netflix, UnitedHealth upgrades among today's top calls on Wall Street » 10:0204/2104/21/21
NFLX, UNH, MS, COIN, AZO, AAP, GPC, ORLY
Check out today's top…
BofA downgrades AutoZone to Underperform, sees good news priced in » 06:3804/2104/21/21
AZO, AAP, GPC, ORLY
As previously reported,…
As previously reported, BofA analyst Elizabeth Suzuki downgraded AutoZone to Underperform from Neutral with an unchanged price target of $1,390. With the stock up 29% year-to-date, and having outperformed auto parts retail peers Advance Auto Parts (AAP), Genuine Parts (GPC), and O'Reilly Automotive (ORLY), Suzuki thinks the "good news is now priced in." The stock now trades in line with peer Advance Auto, which she views as having more attractive multi-year earnings growth potential, Suzuki added.
|Over a month ago|
Genuine Parts appoints Napoleon Rutledge as chief accounting officer » 16:5903/0103/01/21
Genuine Parts announced…
Genuine Parts announced that its board of directors has appointed Napoleon Rutledge, senior VP of finance, to the additional role of chief accounting officer of the company. In his expanded role, Rutledge will be responsible for the company's corporate finance and accounting, including its regulatory accounting matters, financial reporting, financial planning and analysis and accounting policies. Rutledge has worked in a variety of financial management roles and has experience in corporate finance, treasury, risk management, audit and SEC reporting.