Sectors & IndustriesConsumer CyclicalAuto Parts

Best Auto Part Stocks to Buy Now (2024)

Top auto part stocks in 2024 ranked by overall Zen Score. See the best auto part stocks to buy now, according to analyst forecasts for the auto parts industry.

According to Zen Score, the 3 best auto part stocks to buy right now are:

Autoliv (NYSE:ALV) is the top auto part stock with a Zen Score of 71, which is 37 points higher than the auto part industry average of 34. It passed 27 out of 38 due diligence checks and has strong fundamentals. Autoliv has seen its stock return 25.32% over the past year, overperforming other auto part stocks by 41 percentage points.

Autoliv has an average 1 year price target of $134.00, an upside of 22.54% from Autoliv's current stock price of $109.35.

Autoliv stock has a consensus Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Autoliv, 42.86% have issued a Strong Buy rating, 0% have issued a Buy, 57.14% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Lear (NYSE:LEA) is the second best auto part stock with a Zen Score of 58, which is 24 points higher than the auto part industry average of 34. It passed 21 out of 38 due diligence checks and has strong fundamentals. Lear has seen its stock lose -20.03% over the past year, underperforming other auto part stocks by -4 percentage points.

Lear has an average 1 year price target of $161.25, an upside of 39.39% from Lear's current stock price of $115.68.

Lear stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 8 analysts covering Lear, 62.5% have issued a Strong Buy rating, 0% have issued a Buy, 37.5% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Allison Transmission Holdings (NYSE:ALSN) is the third best auto part stock with a Zen Score of 57, which is 23 points higher than the auto part industry average of 34. It passed 21 out of 38 due diligence checks and has strong fundamentals. Allison Transmission Holdings has seen its stock return 35.58% over the past year, overperforming other auto part stocks by 51 percentage points.

Allison Transmission Holdings has an average 1 year price target of $76.00, an upside of 4.91% from Allison Transmission Holdings's current stock price of $72.44.

Allison Transmission Holdings stock has a consensus Hold recommendation according to Wall Street analysts. Of the 5 analysts covering Allison Transmission Holdings, 0% have issued a Strong Buy rating, 20% have issued a Buy, 60% have issued a hold, while 0% have issued a Sell rating, and 20% have issued a Strong Sell.

Out of 13 auto part stocks that have issued dividends in the past year, the 3 auto part stocks with the highest dividend yields are:

Monro (NASDAQ:MNRO) has an annual dividend yield of 4.62%, which is 2 percentage points higher than the auto part industry average of 2.7%. Monro's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Monro's dividend has shown consistent growth over the last 10 years.

Monro's dividend payout ratio of 94.9% indicates that its high dividend yield might not be sustainable for the long-term.

Magna International (NYSE:MGA) has an annual dividend yield of 4.43%, which is 2 percentage points higher than the auto part industry average of 2.7%. Magna International's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Magna International's dividend has shown consistent growth over the last 10 years.

Magna International's dividend payout ratio of 52.5% indicates that its dividend yield is sustainable for the long-term.

Standard Motor Products (NYSE:SMP) has an annual dividend yield of 4.19%, which is 1 percentage points higher than the auto part industry average of 2.7%. Standard Motor Products's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Standard Motor Products's dividend has shown consistent growth over the last 10 years.

Standard Motor Products's dividend payout ratio of 81.7% indicates that its dividend yield is sustainable for the long-term.

Auto part stocks were down -2.61% in the last day, and down -4.54% over the last week. Aptiv was the among the top losers in the auto parts industry, dropping -5.65% yesterday.

Shares of companies within the broader discretionary sector are trading lower following softer-than-expected consumer sentiment data.

Based on WallStreetZen's Valuation Score, the 3 most undervalued auto part stocks right now are:

Strattec Security (NASDAQ:STRT) is the most undervalued auto part stock based on WallStreetZen's Valuation Score. Strattec Security has a valuation score of 86, which is 56 points higher than the auto part industry average of 30. It passed 6 out of 7 valuation due diligence checks.

Strattec Security's stock has gained 30.11% in the past year. It has overperformed other stocks in the auto part industry by 46 percentage points.

Borgwarner (NYSE:BWA) is the second most undervalued auto part stock based on WallStreetZen's Valuation Score. Borgwarner has a valuation score of 71, which is 41 points higher than the auto part industry average of 30. It passed 5 out of 7 valuation due diligence checks.

Borgwarner's stock has dropped -32.3% in the past year. It has underperformed other stocks in the auto part industry by -17 percentage points.

Lkq (NASDAQ:LKQ) is the third most undervalued auto part stock based on WallStreetZen's Valuation Score. Lkq has a valuation score of 71, which is 41 points higher than the auto part industry average of 30. It passed 5 out of 7 valuation due diligence checks.

Lkq's stock has dropped -26.03% in the past year. It has underperformed other stocks in the auto part industry by -10 percentage points.