Genuine Parts should deliver rising returns despite industrywide automotive parts weakness.
We do not plan a large change for our $94 per share valuation after narrow-moat Genuine Parts reported second-quarter earnings (5% sales increase, diluted EPS of $1.29) that leave it on pace to meet our 2017 targets. Management updated 2017 guidance to 3%-4% sales growth and $4.70-$4.75 diluted EPS (sales outlook was unchanged, but the prior EPS target was $4.75-$4.85 per share), in line with our 3.5% and $4.75 respective marks. Our long-term forecast (4% top-line growth, 8% adjusted operating m...Genuine Parts is engaged in the distribution of automotive replacement parts, industrial parts, and business products. The company's reportable business segments are: Automotive, which distributes automotive parts and accessory items and provides inventory, cataloging, marketing, training and other programs to the automotive aftermarket; Industrial, which distributes industrial replacement parts and related supplies such as bearings, mechanical and electrical power transmission products, industrial automation, and hose, among others; and Business Products, which is engaged in the wholesale distribution of a line of office and other business-related products through a customer base of resellers.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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