We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Product Offerings Aid Genuine Parts (GPC) Amid Expense Woes
Read MoreHide Full Article
On Jun 25, we issued an updated research report on Genuine Parts Company (GPC - Free Report) .
The company resorts to acquisition in order to improve its product offerings and solidify its global platform. This, in turn, helps it attain robust and sustainable sales growth. In May 2019, the company announced to acquire the outstanding 65% stake in Sydney, Australia-based Inenco Group (‘Inenco’). After completing the acquisition, Genuine Parts will have 100% ownership in Inenco. In first-quarter 2019, Genuine Parts acquired Axis New England and Axis New York, and these were added to the Industrial Parts Group.
In first-quarter 2019, the company reported net sales of $4.74 billion, up 3.3% year over year. Net sales included 3.3% comparable growth, roughly 2% from acquisitions, partly offset by 2% adverse impact of foreign currency translation.
However, Genuine Parts has been witnessing continuous rise in selling, general & administrative (SG&A) expenses that might hamper the gross margin. Further, unfavorable foreign currency translation also added to the company’s woes that reduced quarterly earnings.
Over the past year, shares of Genuine Parts have outperformed the industry it belongs to. During this time frame, shares of the company have rallied 12.4% while the industry rose 0.6%.
Zacks Rank & Stocks to Consider
Genuine Parts currently carries a Zacks Rank #3 (Hold).
Ford has an expected long-term growth rate of 7.3%. Over the past six months, shares of the company have gained 25.3%.
Fox Factory has an expected long-term growth rate of 16.4%. Over the past six months, shares of the company have gained 35.1%.
Cummins has an expected long-term growth rate of 8%. Over the past six months, shares of the company have gained 27.3%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Product Offerings Aid Genuine Parts (GPC) Amid Expense Woes
On Jun 25, we issued an updated research report on Genuine Parts Company (GPC - Free Report) .
The company resorts to acquisition in order to improve its product offerings and solidify its global platform. This, in turn, helps it attain robust and sustainable sales growth. In May 2019, the company announced to acquire the outstanding 65% stake in Sydney, Australia-based Inenco Group (‘Inenco’). After completing the acquisition, Genuine Parts will have 100% ownership in Inenco. In first-quarter 2019, Genuine Parts acquired Axis New England and Axis New York, and these were added to the Industrial Parts Group.
In first-quarter 2019, the company reported net sales of $4.74 billion, up 3.3% year over year. Net sales included 3.3% comparable growth, roughly 2% from acquisitions, partly offset by 2% adverse impact of foreign currency translation.
However, Genuine Parts has been witnessing continuous rise in selling, general & administrative (SG&A) expenses that might hamper the gross margin. Further, unfavorable foreign currency translation also added to the company’s woes that reduced quarterly earnings.
Over the past year, shares of Genuine Parts have outperformed the industry it belongs to. During this time frame, shares of the company have rallied 12.4% while the industry rose 0.6%.
Zacks Rank & Stocks to Consider
Genuine Parts currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Ford Motor Company (F - Free Report) , Fox Factory Holding Corp. (FOXF - Free Report) and Cummins Inc. (CMI - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ford has an expected long-term growth rate of 7.3%. Over the past six months, shares of the company have gained 25.3%.
Fox Factory has an expected long-term growth rate of 16.4%. Over the past six months, shares of the company have gained 35.1%.
Cummins has an expected long-term growth rate of 8%. Over the past six months, shares of the company have gained 27.3%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>