Stock Market News & Stocks to Watch from StraightStocks » Genuine Parts Company; http://www.straightstocks.com Leading Stock Market News, Opinions and Commentary Thu, 26 Nov 2009 02:21:14 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Genuine Parts’ Profits Dip 18% – Analyst Blog http://www.straightstocks.com/stock-watch/genuine-parts-profits-dip-18-analyst-blog/ http://www.straightstocks.com/stock-watch/genuine-parts-profits-dip-18-analyst-blog/#comments Fri, 16 Oct 2009 16:38:18 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/26046/Genuine+Parts%27+Profits+Dip+18%25+-+Analyst+Blog
Genuine Parts Company (GPC) reported an 18% drop in profits to $108 million in the third quarter from $131 million in the prior-year quarter. On an earnings per share (EPS) basis, profit of 67 cents was above the Zacks Consensus Estimate of 65 cents. Nevertheless, it was lower than the year-ago EPS of 81 cents. Sales for the quarter fell 10% to $2.61 billion.

Genuine Parts’ Automotive and Office Products segments witnessed improvements during the quarter. However, Industrial Parts and Electrical/Electronic Material segments have not yet recovered. Revenue in the Automotive Parts segment fell 1% to $1.38 billion, Industrial Parts segment slashed 22% to $711 million, Office Products segment declined 5% to $436 million and Electrical Group tumbled 30% to $89 million.

Financial Position

Genuine Parts has strengthened its financial position through working capital and asset management initiatives as well as cost reduction efforts. The company had cash and cash equivalents of $363 million as on Sept. 30, 2009 . Long-term debt amounted to $500 million as on that date. The long-term debt-to-capitalization ratio was as low as 16%.

In the first nine months of 2009, Genuine Parts’ net cash flow from operating activities increased to $766.5 million from $469 million in the prior-year period. Meanwhile, capital expenditures reduced to $49 million from $60 million a year ago.

We continue to recommend the shares of Genuine Parts as Neutral with a target price of $37.
Read the full analyst report on "GPC"
Zacks Investment Research
]]> http://www.straightstocks.com/stock-watch/genuine-parts-profits-dip-18-analyst-blog/feed/ 0 GPC Auto Unit Gets New Chief – Analyst Blog http://www.straightstocks.com/stock-watch/gpc-auto-unit-gets-new-chief-analyst-blog/ http://www.straightstocks.com/stock-watch/gpc-auto-unit-gets-new-chief-analyst-blog/#comments Tue, 07 Jul 2009 20:04:19 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/21900/GPC+Auto+Unit+Gets+New+Chief+-+Analyst+Blog Recently, Georgia-based Genuine Parts Company (GPC) announced the 52-year old Paul D. Donahue as the new President of its Automotive Parts Group – the largest division of the company. Donahue replaces Larry Samuelson.

Donahue had joined Genuine Parts in 2003 as the Executive Vice President of sales and marketing of S. P. Richards Company – Genuine Parts’ office products group.

As President, Donahue will now look after the entire U.S. Automotive network of 58 distribution centers and 1,100 company owned stores. Further, he will develop and strengthen relationships and growth opportunities with the nearly 4,800 independently owned NAPA AUTO PARTS stores.

However, Donahue will face several hurdles that overhang on Genuine Parts’ prospects. Product improvements by original equipment manufacturers (OEMs) and other technological advancements are pulling down revenue growth in the replacement parts sector of the Auto unit. Moreover, OEMs are favoring in-house repairing by dealers rather than remanufacturing, which is dampening the demand for replacement parts.

A lower consumer confidence thwarts Genuine Parts' efforts to drive sales growth in its Automotive Parts group. The company has a large merchandise inventory accounting for almost 60% of the current assets. Additionally, the company has been unable to institute any meaningful price hikes in its automotive business due to pressure from retailers.

In the first quarter of 2009, Genuine Parts reported a 28% fall in net income to $89.2 million. Net sales were down 11% to $2.4 billion. Revenue in the Automotive Parts segment fell 7% to $1.2 billion.

In light of the above conditions, we continue to recommend GPC as Hold with a six-month target price of $33.00.
Read the full analyst report on "GPC"
Zacks Investment Research
]]> http://www.straightstocks.com/stock-watch/gpc-auto-unit-gets-new-chief-analyst-blog/feed/ 0 Highest Yielding Stocks Going Ex-Dividend Early December http://www.straightstocks.com/current-market-news/highest-yielding-stocks-going-ex-dividend-early-december/ http://www.straightstocks.com/current-market-news/highest-yielding-stocks-going-ex-dividend-early-december/#comments Mon, 01 Dec 2008 08:24:00 +0000 Fred Fuld tag:blogger.com,1999:blog-23020893.post-3969871711214896945 http://www.straightstocks.com/current-market-news/highest-yielding-stocks-going-ex-dividend-early-december/feed/ 0 Georgia Stocks http://www.straightstocks.com/current-market-news/georgia-stocks/ http://www.straightstocks.com/current-market-news/georgia-stocks/#comments Mon, 17 Nov 2008 02:24:00 +0000 Fred Fuld tag:blogger.com,1999:blog-23020893.post-7734811807573687183
As one of the states with the largest manufacturing industries in the country, it is no mystery as to why Georgia ranks as one of the top consumers of energy. Some interesting facts on what is the world 28th largest economy follow:

1. The travel industry contributes around $20 billion a year to the state economy.
2. Georgia’s bioscience industry generates 15,000 jobs.
3. Over 250 bioscience companies are headquartered in the state.
4. The Georgia paper industry is second only to Alabama, and it employs 26,000 workers.
5. The state has the largest commercial forest in the country, which produce over $19 billion in revenue and employ more than 150,000 people.
6. The food processing industry generates more than 70,000 jobs, and produces sales receipt of over $16 billion a year.
7. The largest manufacturing employer is the textile-carpet industry which employs over 100,000 workers and produces more than $2.5 billion in revenue annually.
8. There are over 700 textile companies headquartered in Georgia.
9. The mining industry of non fuel minerals produces $1.8 billion in income, and it employs over 9,000 workers.
10. Georgia’s clay production amounts to 24% of total U.S. production

The following companies are headquartered in Georgia:

The Coca-Cola Company (KO) makes, delivers and sells non alcoholic beverages around the globe. The stock has a market cap of $102.17 billion, a PE of 18, a PEG of 1.61, and it pays a yield of 3.4%.

United Parcel Service, Inc. (UPS) is a parcel delivery firm, and it operates worldwide. The stock has a market cap of $50.95 billion, a PE of 247, a PEG of 1.36, and it pays a yield of 3.5%.

Home Depot, Inc. (HD) is a retailer of home improvement products in North America. The stock has a market cap of $34.33 billion, a PE of 10, a PEG of 1.06, and it pays a yield of 4.5%.

Southern Company (SO) produces and markets electricity in the south. The stock has a market cap of $25.79 billion. A PE of 15, a PEG of 2.74, and it pays a dividend of 5.2%.

Aflac Incorporated (AFL) is a life and health insurance company in the United States and Japan. The stock has a market cap of $20.54 billion, a PE of 12, a PEG of 0.74, and it pays a yield of 2.3%.

SunTrust Banks, Inc (STI) is a financial institution providing services to individuals and businesses in the United States. The stock has a market cap of $14.81 billion, a PE of 12, a PEG of 2.49, and it pays a yield of 7%.

Invesco Ltd. (IVZ) is an investment management company providing management services in the United States. The stock has a market cap of $5.67 billion, a PE of 9, and it pays a yield of 1.4%.

Oca Cola Enterprises, Inc. (CCE) makes, distributes and sells nonalcoholic drinks. The stock has a market cap of $5.45 billion, a PEG of 1.27 and it pays a yield of 2.5%.

Genuine Parts Company (GPC) is a distributor of industrial and automobile parts in North America. The stock has a market cap of $5.48 billion, a PE of 11, a PEG of 1.30, and it pays a yield of 5.0%.

Intercontinental Exchange Inc. (ICE) is an online marketplace for the trading of securities and commodities. The stock has a market cap of $5.49 billion, a PE of 19, and a PEG of 0.67.

Don't forget to check out the stocks from the states of Wisconsin, Louisiana, Michigan, and Kentucky.

Author owns UPS.

By Stockerblog.com
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