Genuine Parts Company's Stock Performance Compared to the Dow Jones Industrial Average
The Genuine Parts Company (GPC), a leading global provider of automotive and industrial replacement parts and value-added solutions, has reported better-than-expected Q2 results, sending its stock soaring by 7.6% in a single trading session on Jul. 22.
Despite the positive earnings, GPC's adjusted Earnings Per Share (EPS) dropped 13.9% year-over-year to $2.10. However, the figure surpassed the consensus estimates by 96 basis points.
The company's topline for Q2 grew 3.4% year-over-year to $6.2 billion, with contributions from acquisitions, favourable currency movements, and a marginal increase in comparable sales.
GPC's stock prices touched a 52-week high of $144.29 on Oct. 18, 2024, but currently, it is trading 3.5% below this mark. Over the past three months, the stock has soared 16.7%, and over the past year, it has gained 10.6%, while the Dow Jones Industrial Average returned 8.2%.
Despite these gains, GPC has notably lagged behind Aptiv PLC's (APTV) 37% surge on a Year-to-Date (YTD) basis and 18% gains over the past year.
The chairman and CEO of Genuine Parts Company at the time of this article's publication was Will Stengel. GPC employs over 60,000 people and operates over 10,700 locations spread across 17 countries.
The consensus rating among the 12 analysts covering the GPC stock is a "Moderate Buy." As of writing, the stock is trading marginally below its mean price target of $139.38. GPC's stock has traded mostly above its 50-day and 200-day moving averages since May 2024.
Recent quarters have seen GPC making notable progress in its restructuring efforts to tackle the continuously challenging market conditions.
It's important to note that all information and data in this article are solely for informational purposes. Aditya Sarawgi did not have positions in any of the securities mentioned at the date of publication.
This article does not contain advertisements and aims to provide a clear, straightforward, and approachable summary of GPC's Q2 results and current stock performance.
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