Genuine Parts saw a meaningful deceleration in industrial business After being up 12% in Q1, the industrial operations segment of Genuine Parts, GPC, up was 8% in Q2, 4.5% in Q3, and 2% in Q4. These trends are consistent with what GPC has seen across the industry. Of particular interest is the fact that the Q4 slowdown became more pronounced in the final weeks of December. These comments are from the company's Q4 earnings conference call.
Genuine Parts upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded Genuine Parts to Overweight after assuming coverage of the stock and raised its price target for shares to $100 from $98. The firm expects continued increases in the company's dividend and says NAPA has outperformed the market for the last three quarters.