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Genuine Parts (GPC) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Genuine Parts (GPC - Free Report) closed at $169.23, marking a +1.91% move from the previous day. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the auto and industrial parts distributor had gained 11.28% in the past month. In that same time, the Auto-Tires-Trucks sector gained 20.58%, while the S&P 500 gained 4.67%.
Investors will be hoping for strength from Genuine Parts as it approaches its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $2.31, up 5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.93 billion, up 5.93% from the year-ago period.
GPC's full-year Zacks Consensus Estimates are calling for earnings of $9.07 per share and revenue of $23.4 billion. These results would represent year-over-year changes of +8.75% and +5.89%, respectively.
Investors might also notice recent changes to analyst estimates for Genuine Parts. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.11% higher within the past month. Genuine Parts currently has a Zacks Rank of #2 (Buy).
Investors should also note Genuine Parts's current valuation metrics, including its Forward P/E ratio of 18.31. For comparison, its industry has an average Forward P/E of 15.31, which means Genuine Parts is trading at a premium to the group.
It is also worth noting that GPC currently has a PEG ratio of 2.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Automotive - Replacement Parts was holding an average PEG ratio of 1.79 at yesterday's closing price.
The Automotive - Replacement Parts industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 40, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Genuine Parts (GPC) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Genuine Parts (GPC - Free Report) closed at $169.23, marking a +1.91% move from the previous day. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the auto and industrial parts distributor had gained 11.28% in the past month. In that same time, the Auto-Tires-Trucks sector gained 20.58%, while the S&P 500 gained 4.67%.
Investors will be hoping for strength from Genuine Parts as it approaches its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $2.31, up 5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.93 billion, up 5.93% from the year-ago period.
GPC's full-year Zacks Consensus Estimates are calling for earnings of $9.07 per share and revenue of $23.4 billion. These results would represent year-over-year changes of +8.75% and +5.89%, respectively.
Investors might also notice recent changes to analyst estimates for Genuine Parts. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.11% higher within the past month. Genuine Parts currently has a Zacks Rank of #2 (Buy).
Investors should also note Genuine Parts's current valuation metrics, including its Forward P/E ratio of 18.31. For comparison, its industry has an average Forward P/E of 15.31, which means Genuine Parts is trading at a premium to the group.
It is also worth noting that GPC currently has a PEG ratio of 2.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Automotive - Replacement Parts was holding an average PEG ratio of 1.79 at yesterday's closing price.
The Automotive - Replacement Parts industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 40, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.