Shares of Genuine Parts (GPC - Get Report) are moving higher Wednesday, climbing roughly 4% after the company beat on earnings and revenue expectations. 

The company blew the numbers away and raised its full-year outlook, TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, noted on CNBC's "Stop Trading" segment. 

Investors should watch shares of Genuine Parts, because its results are important. It gives a strong read-through to auto-part suppliers like AutoZone (AZO) , O'Reilly Automotive (ORLY - Get Report) and Advanced Auto Parts (AAP - Get Report) , Cramer said. 

All three stocks are trading notably higher on the day, up mostly around 2%. 

It also speaks to some investors' fears that may not be coming to fruition. Specifically, Cramer said perhaps Amazon's (AMZN - Get Report) foray into auto parts isn't doing the damage investors once anticipated and that the thesis calling for peak auto sales may be wrong.  

"This is a remarkable company," Cramer concluded, one that doesn't get enough credit. 

At the time of publication, Cramer's Action Alerts PLUS had no position in any companies mentioned.