Sectors & Industries Consumer 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.

Industry: Auto Parts

Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Zen Score	Valuation Score	Financials Score	Forecast Score	Performance Score	Dividends Score
MGA	MAGNA INTERNATIONAL INC	59	71	71	44	30	80
XPEL	XPEL INC	55	43	86	33	60	–
LEA	LEAR CORP	55	71	71	44	30	60
ALV	AUTOLIV INC	53	43	57	44	40	80
MLR	MILLER INDUSTRIES INC	51	43	71	0	60	80
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Auto Part Stocks FAQ

What are the best auto part stocks to buy right now in Apr 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 59, which is 26 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 -7.45% over the past year, overperforming other auto part stocks by 1 percentage points.

Magna International has an average 1 year price target of $62.80, an upside of 27.62% from Magna International's current stock price of $49.21.

Magna International stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Magna International, 40% have issued a Strong Buy rating, 0% have issued a Buy, 60% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Lear (NYSE:LEA)

Lear (NYSE:LEA) is the second best auto part stock with a Zen Score of 55, which is 22 points higher than the auto part industry average of 33. It passed 20 out of 38 due diligence checks and has strong fundamentals. Lear has seen its stock return 0.98% over the past year, overperforming other auto part stocks by 9 percentage points.

Lear has an average 1 year price target of $168.00, an upside of 24.29% from Lear's current stock price of $135.17.

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

3. Xpel (NASDAQ:XPEL)

Xpel (NASDAQ:XPEL) is the third best auto part stock with a Zen Score of 55, which is 22 points higher than the auto part industry average of 33. It passed 18 out of 33 due diligence checks and has strong fundamentals. Xpel has seen its stock lose -25.29% over the past year, underperforming other auto part stocks by -17 percentage points.

Xpel has an average 1 year price target of $74.00, an upside of 32.26% from Xpel's current stock price of $55.95.

Xpel stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Xpel, 100% have issued a Strong Buy rating, 0% 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. Douglas Dynamics (NYSE:PLOW)

Douglas Dynamics (NYSE:PLOW) has an annual dividend yield of 5.27%, which is 3 percentage points higher than the auto part industry average of 2.63%. 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 116.8% indicates that its high dividend yield might not be sustainable for the long-term.

2. Magna International (NYSE:MGA)

Magna International (NYSE:MGA) has an annual dividend yield of 3.77%, which is 1 percentage points higher than the auto part industry average of 2.63%. 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 43.8% indicates that its dividend yield is sustainable for the long-term.

3. Monro (NASDAQ:MNRO)

Monro (NASDAQ:MNRO) has an annual dividend yield of 3.74%, which is 1 percentage points higher than the auto part industry average of 2.63%. 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 up?

Auto part stocks were up 0.67% in the last day, and up 2.39% over the last week.

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

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 86, which is 53 points higher than the auto part industry average of 33. It passed 6 out of 7 valuation due diligence checks.

Strattec Security's stock has gained 13.17% in the past year. It has overperformed other stocks in the auto part industry by 21 percentage points.

2. Holley (NYSE:HLLY)

Holley (NYSE:HLLY) is the second most undervalued auto part stock based on WallStreetZen's Valuation Score. Holley has a valuation score of 71, which is 38 points higher than the auto part industry average of 33. It passed 5 out of 7 valuation due diligence checks.

Holley's stock has gained 80.62% in the past year. It has overperformed other stocks in the auto part industry by 89 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 38 points higher than the auto part industry average of 33. It passed 5 out of 7 valuation due diligence checks.

Borgwarner's stock has dropped -31.55% in the past year. It has underperformed other stocks in the auto part industry by -23 percentage points.

Are auto part stocks a good buy now?

40.63% of auto part stocks rated by analysts are a buy right now. On average, analysts expect auto part stocks to rise by 26.61% 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 -163.02x.

WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.