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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.

Industry: Auto Parts
OverviewZen Score
PriceValuationFinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Zen Score
Valuation Score
Financials Score
Forecast Score
Performance Score
Dividends Score
MGA
MAGNA INTERNATIONAL INC
61
71
71
44
20
100
ALV
AUTOLIV INC
60
43
86
33
60
80
DORM
DORMAN PRODUCTS INC
56
71
71
22
60
–
XPEL
XPEL INC
55
57
71
33
60
–
LEA
LEAR CORP
55
71
71
44
30
60

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Use Zen Score to quickly analyze stock fundamentals, even if you don't have a finance background. We run time-tested due diligence checks inspired by legendary investors like Warren Buffett, and score each company based on how many they pass/fail.

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Auto Part Stocks FAQ

What are the best auto part stocks to buy right now in May 2024?

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

1. Magna International (NYSE:MGA)


Magna International (NYSE:MGA) is the top auto part stock with a Zen Score of 61, which is 28 points higher than the auto part industry average of 33. It passed 21 out of 38 due diligence checks and has strong fundamentals. Magna International has seen its stock lose -7.47% over the past year, underperforming other auto part stocks by -7 percentage points.

Magna International has an average 1 year price target of $58.71, an upside of 22.47% from Magna International's current stock price of $47.94.

Magna International stock has a consensus Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Magna International, 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.

2. Autoliv (NYSE:ALV)


Autoliv (NYSE:ALV) is the second best auto part stock with a Zen Score of 60, which is 27 points higher than the auto part industry average of 33. It passed 22 out of 38 due diligence checks and has strong fundamentals. Autoliv has seen its stock return 48.62% over the past year, overperforming other auto part stocks by 49 percentage points.

Autoliv has an average 1 year price target of $132.83, an upside of 5.25% from Autoliv's current stock price of $126.21.

Autoliv stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Autoliv, 33.33% have issued a Strong Buy rating, 0% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Dorman Products (NASDAQ:DORM)


Dorman Products (NASDAQ:DORM) is the third best auto part stock with a Zen Score of 56, which is 23 points higher than the auto part industry average of 33. It passed 18 out of 33 due diligence checks and has strong fundamentals. Dorman Products has seen its stock return 8.92% over the past year, overperforming other auto part stocks by 9 percentage points.

Dorman Products has an average 1 year price target of $103.00, an upside of 11.76% from Dorman Products's current stock price of $92.16.

Dorman Products stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Dorman Products, 50% have issued a Strong Buy rating, 50% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the auto part stocks with highest dividends?

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:

1. Magna International (NYSE:MGA)


Magna International (NYSE:MGA) has an annual dividend yield of 4.86%, which is 2 percentage points higher than the auto part industry average of 2.59%. 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 high dividend yield is sustainable for the long-term.

2. Douglas Dynamics (NYSE:PLOW)


Douglas Dynamics (NYSE:PLOW) has an annual dividend yield of 4.65%, which is 2 percentage points higher than the auto part industry average of 2.59%. Douglas Dynamics's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Douglas Dynamics's dividend has shown consistent growth over the last 10 years.

Douglas Dynamics's dividend payout ratio of 98.3% indicates that its high dividend yield might not be sustainable for the long-term.

3. Monro (NASDAQ:MNRO)


Monro (NASDAQ:MNRO) has an annual dividend yield of 4.04%, which is 1 percentage points higher than the auto part industry average of 2.59%. 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 103.7% indicates that its dividend yield might not be sustainable for the long-term.

Why are auto part stocks down?

Auto part stocks were down -0.62% in the last day, and up 0.71% over the last week.

We couldn't find a catalyst for why auto part stocks are down.

What are the most undervalued auto part stocks?

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

1. Strattec Security (NASDAQ:STRT)


Strattec Security (NASDAQ:STRT) is the most undervalued auto part stock based on WallStreetZen's Valuation Score. Strattec Security has a valuation score of 100, which is 70 points higher than the auto part industry average of 30. It passed 7 out of 7 valuation due diligence checks.

Strattec Security's stock has gained 48.86% in the past year. It has overperformed other stocks in the auto part industry by 49 percentage points.

2. Dorman Products (NASDAQ:DORM)


Dorman Products (NASDAQ:DORM) is the second most undervalued auto part stock based on WallStreetZen's Valuation Score. Dorman Products 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.

Dorman Products's stock has gained 8.92% in the past year. It has overperformed other stocks in the auto part industry by 9 percentage points.

3. Borgwarner (NYSE:BWA)


Borgwarner (NYSE:BWA) is the third 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 -13.71% in the past year. It has underperformed other stocks in the auto part industry by -14 percentage points.

Are auto part stocks a good buy now?

42.42% of auto part stocks rated by analysts are a buy right now. On average, analysts expect auto part stocks to rise by 19.47% over the next year.

What is the average p/e ratio of the auto parts industry?

The average P/E ratio of the auto parts industry is -9.02x.
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