Genuine Parts Company (GPC) : Traders are bullish on Genuine Parts Company (GPC) as it has outperformed the S&P 500 by a wide margin of 3.51% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.3%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.27% in the last 1 week, and is up 3.9% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Genuine Parts Company is up 11.02% in the last 3-month period. Year-to-Date the stock performance stands at 22.55%. The stock has recorded a 20-day Moving Average of 2.21% and the 50-Day Moving Average is 3.3%.
Genuine Parts Company (NYSE:GPC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $103.02 and $102.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $104.01. The buying momentum continued till the end and the stock did not give up its gains. It closed at $103.80, notching a gain of 0.43% for the day. The total traded volume was 635,835 . The stock had closed at $103.36 on the previous day.
Also, Equity analysts at the Brokerage firm Jefferies downgrades its rating on Genuine Parts Company (NYSE:GPC). The rating major has initiated the coverage with hold rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 15, 2016.
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 20,000 electrical and electronic manufacturers, as well as industrial assembly and specialty wire and cable markets in North America. In 2014, the Companys business was conducted from approximately 2,600 locations throughout the United States, Canada, Mexico, Australia and New Zealand.