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Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio

Zacks Equity Research
·2-min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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Genuine Parts (GPC)

Atlanta-based Genuine Parts distributes automotive and industrial replacement parts and materials. As of Dec 31, 2022, the company had a network of more than 10,600 locations across 17 countries and employed approximately 58,000 people worldwide. Currently, Genuine Parts operates through two segments: Automotive Parts and Industrial Parts.

GPC sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of B, and has a VGM Score of A. Earnings and sales are forecasted to increase 8.6% and 5.8% year-over-year, respectively.

Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.13 to $9.06 per share. GPC also boasts an average earnings surprise of 8.2%.

Looking at cash flow, Genuine Parts is expected to report cash flow growth of 19.2% this year; GPC has generated cash flow growth of 12.5% over the past three to five years.

Investors should take the time to consider GPC for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Genuine Parts Company (GPC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research