Truist Financial analyst Scot Ciccarelli maintains $Genuine Parts (GPC.US)$ with a buy rating, and sets the target price at $129.
According to TipRanks data, the analyst has a success rate of 73.7% and a total average return of 18.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Genuine Parts (GPC.US)$'s main analysts recently are as follows:
Genuine Parts' Q3 results did not meet expectations, and despite the promising potential of the investment case, the company has not realized this potential in recent quarters. The outlook suggests a continuing weak environment into Q4, and there appears to be no immediate catalyst for the stock.
The third quarter outcomes for Genuine Parts were notably underwhelming, even compared to reduced forecasts, with the company grappling with higher-than-anticipated wage and rental inflation, particularly internationally. The difficulty of maneuvering a worldwide corporation is accentuated by persistent pressure on trends, limited cost flexibility after a protracted period of economic deceleration, and committed expenditures for planned investments. The performance of the stock is observed to correlate with the growth or contraction of the company's various business segments.
Genuine Parts' third-quarter results fell short of expectations on the revenue front once adjusted for acquisitions and were significantly below estimates on the profit side. Additionally, the company has cut its full-year forecast, indicating that the observed weakness is expected to continue into the fourth quarter.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
