Evercore analyst Greg Melich maintains $Genuine Parts (GPC.US)$ with a hold rating, and adjusts the target price from $155 to $123.
According to TipRanks data, the analyst has a success rate of 67.7% and a total average return of 10.4% 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 potential in its investment case, the company has not realized this potential in recent quarters. The company's outlook indicates a continuation of the challenging conditions anticipated to last into Q4, and presently, there is no evident near-term catalyst for the stock.
Genuine Parts' Q3 outcomes significantly trailed behind even the revised forecasts, indicating that wage and rent inflation are surging beyond the company's initial projections, especially internationally. The firm is grappling with limited cost flexibility after six quarters of economic downturn, ongoing investment expenses, and the difficulties that come with overseeing a global operation amid persistent strain on trends. It's observed that the company's stock typically rallies when both segments of the business are expanding, conversely, it dips when growth is absent in these areas.
Genuine Parts disclosed Q3 outcomes that fell short of projections on the revenue front when adjusted for acquisitions, and notably did not meet expectations on the profit side. Additionally, the company reduced its full year forecast, indicating that the challenges are expected to continue into Q4.
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.
