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Genuine Parts Stock Gains 3%

Shares of Genuine Parts Co. (GPC) are rising over 3% Thursday morning, after the company raised its earnings, adjusted earnings and total net sales growth guidance for the full-year 2021.

The stock, which has been trading in the range of $88.99 - $135.93 for the past one year, is currently trading at $133.90, up $4.25 or 3.28%. Trading volume is over 315K versus an average volume of 555K shares.

For fiscal 2021, the company now projects earnings in a range of $5.92 - $5.97 per share and adjusted earnings in a range of $6.60 - $6.65 per share on total sales growth of 12% - 13%.

Previously, the company expected earnings in a range of $5.81 - $5.96 per share and adjusted earnings in the range of $6.20 - $6.35 per share on total sales growth of 10% - 12%.

Analysts polled by Thomson Reuters expect the company to report earnings of $6.40 per share on revenue growth of 11.7% to $18.47 billion for the year. Analysts' estimates typically exclude certain special items.

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