What’s Next for Genuine Parts Company (GPC) After Forming Bullish Inverse Head & Shoulders Pattern?

December 7, 2017 - By Ellis Scott

Investors sentiment decreased to 0.9 in 2017 Q2. Its down 0.25, from 1.15 in 2017Q1. It is negative, as 53 investors sold Genuine Parts Company shares while 206 reduced holdings. 40 funds opened positions while 194 raised stakes. 106.82 million shares or 1.53% more from 105.21 million shares in 2017Q1 were reported.
Bb&T Secs Lc accumulated 86,608 shares. Louisiana State Employees Retirement System owns 9,100 shares. 12,280 are owned by Baker Ellis Asset Management. Bessemer Grp Inc Incorporated owns 555 shares. Stadion Money Mngmt Ltd Com reported 0.07% of its portfolio in Genuine Parts Company (NYSE:GPC). Amica Mutual Insurance Company invested in 9,438 shares or 0.08% of the stock. Provise Management Group Llc holds 0.05% in Genuine Parts Company (NYSE:GPC) or 3,790 shares. Alethea Capital Mngmt Ltd Liability Com invested 1.02% in Genuine Parts Company (NYSE:GPC). Utd Capital Fincl Advisers Ltd Co holds 0.01% or 6,590 shares. World Asset Incorporated holds 0.05% or 17,060 shares. North Star Inv Mgmt Corporation has 900 shares for 0.01% of their portfolio. Renaissance Technologies Ltd invested in 11,700 shares. Cibc Ww Markets owns 3,802 shares. National Bank & Trust Of Ny Mellon holds 0.04% of its portfolio in Genuine Parts Company (NYSE:GPC) for 1.54 million shares. 612,612 are owned by Ubs Asset Management Americas.

The stock of Genuine Parts Company (GPC) formed H&SI with $101.28 price target or 8.00 % above the current $93.78 share price. The 7 months Head & Shoulders Inverse reveals low risk for the $13.75 billion company. This trade was featured by Faxor.com on Dec, 7. If the $101.28 target price is reached, the company’s valuation will be $1.10 billion more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock increased 0.79% or $0.74 during the last trading session, reaching $93.78. About 373,357 shares traded. Genuine Parts Company (NYSE:GPC) has declined 1.45% since December 7, 2016 and is downtrending. It has underperformed by 18.15% the S&P500.

Analysts await Genuine Parts Company (NYSE:GPC) to report earnings on February, 20. They expect $1.07 earnings per share, up 4.90 % or $0.05 from last year’s $1.02 per share. GPC’s profit will be $156.87 million for 21.91 P/E if the $1.07 EPS becomes a reality. After $1.16 actual earnings per share reported by Genuine Parts Company for the previous quarter, Wall Street now forecasts -7.76 % negative EPS growth.

Genuine Parts Company (NYSE:GPC) Ratings Coverage

Among 12 analysts covering Genuine Parts Company (NYSE:GPC), 2 have Buy rating, 3 Sell and 7 Hold. Therefore 17% are positive. Genuine Parts Company had 28 analyst reports since July 21, 2015 according to SRatingsIntel. Jefferies maintained the stock with “Hold” rating in Wednesday, October 11 report. RBC Capital Markets maintained Genuine Parts Company (NYSE:GPC) rating on Friday, November 10. RBC Capital Markets has “Hold” rating and $93.0 target. Jefferies maintained it with “Hold” rating and $95.0 target in Friday, September 8 report. The stock of Genuine Parts Company (NYSE:GPC) has “Buy” rating given on Tuesday, October 20 by Gabelli. As per Wednesday, September 30, the company rating was downgraded by Goldman Sachs. RBC Capital Markets maintained Genuine Parts Company (NYSE:GPC) on Tuesday, July 21 with “Sector Perform” rating. As per Thursday, October 20, the company rating was maintained by Wedbush. The stock of Genuine Parts Company (NYSE:GPC) earned “Hold” rating by RBC Capital Markets on Thursday, July 20. The firm has “Neutral” rating by Atlantic Securities given on Wednesday, December 14. RBC Capital Markets maintained Genuine Parts Company (NYSE:GPC) on Friday, September 8 with “Hold” rating.

More news for Genuine Parts Company (NYSE:GPC) were recently published by: Nasdaq.com, which released: “Genuine Parts Company (GPC) Ex-Dividend Date Scheduled for December 07, 2017” on December 06, 2017. Seekingalpha.com‘s article titled: “Another Consumer Discretionary Stock – Get The Good Stuff” and published on November 27, 2017 is yet another important article.

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