Genuine Parts Company is expected to announce strong Q1 earnings, leading to a potential increase in stock price.
Stock AI’s forecasts:
🟢 +7.8% short-term ⬆️
🟢 +5.6% long-term ⬆️
Stock AI’s (GPC) Forecast get (+0.9% Profit)
StockAI’s analysis delivers real-world results. On 21 November 2023, $GPC ($137.93), StockAI predicted a long-term 🔴 sell signal. It was accurate: 1 month later price dropped to $136.7 (🔴-0.9%). Selling GPC on this signal yielded a +0.9% profit 💰💰.
GPC-Genuine Parts Company News
🟢 Genuine Parts is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $2.16 per share for the quarter.
🟢 StockNews.com upgraded shares of Genuine Parts from a hold rating to a buy rating in a research note issued to investors on Friday.
🔴 Evercore ISI increased their target price on Genuine Parts from $155.00 to $160.00 in a research report published on Tuesday morning.
🔴 Wedbush reiterated their neutral rating on shares of Genuine Parts in a research report sent to investors on Friday morning.
🔴 Genuine Parts updated its FY24 earnings guidance, providing earnings per share guidance of $9.80-9.90 for the period.
🟢 Signaturefd LLC grew its stake in shares of Genuine Parts by 11.9% in the fourth quarter, according to its most recent disclosure with the SEC.
The recent news surrounding Genuine Parts Company stock has had a mixed impact on its price. Positive news such as the upcoming quarterly earnings data release and the upgrade to a buy rating from StockNews.com have likely contributed to a positive sentiment among investors, leading to an increase in the stock price. However, negative news such as the target price increase from Evercore ISI and the neutral rating from Wedbush may have caused some uncertainty, potentially resulting in a decrease in the stock price.
Overall, the positive news regarding the earnings guidance update and the increase in stake by Signaturefd LLC may outweigh the negative news, leading to a positive impact on Genuine Parts Company stock price in the short term. Investors should closely monitor upcoming developments to make informed decisions about their investments in GPC.
GPC-Genuine Parts Company Analyst Ratings
In recent analyst ratings for Genuine Parts Company stock, we have seen a mix of upgrades and downgrades:
📉 Evercore ISI raised the target price on Genuine Parts from $155.00 to $160.00.
📈 StockNews.com upgraded Genuine Parts from a hold to a buy rating.
📈 Truist Financial reiterated their buy rating on Genuine Parts with a target price of $167.00.
Sources:
1. Evercore ISI Raises Genuine Parts Price Target
2. StockNews.com Upgrades Genuine Parts to Buy
3. Truist Financial Reiterates Buy Rating on Genuine Parts
Disclaimer
Investors may consider the AI predictions and news summaries as one factor in their investment decisions alongside their own research and risk tolerance.
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