Gabelli & Co. Downgrades Genuine Parts Company to Hold

Brokerage firm Gabelli & Co. Downgrades its rating on Genuine Parts Company(NYSE:GPC). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Gabelli & Co. was issued on Jul 14, 2016.

Genuine Parts Company (GPC) shares turned negative on Mondays trading session with the shares closing down -0.98 points or -0.95% at a volume of 9,06,709. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $102.94. The peak price level was also seen at $102.94 while the days lowest was $101.75. Finally the shares closed at $101.98. The 52-week high of the shares is $105.97 while the 52-week low is $76.5. According to the latest information available, the market cap of the company is $15,259 M.

Genuine Parts Company(GPC) last announced its earnings results on Apr 19, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $3.72B. Analysts had an estimated revenue of $1.03. Earnings per share were $1.05. Analysts had estimated an EPS of $1.03.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, Timothy P Breen (Executive Vice President) sold 700 shares at $98.05 per share price.Also, 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.

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