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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
Ticker
Company
Dividends Score
Market Cap
Dividend Yield
Payout Ratio
Last Dividend
Annual Dividend
Dividend Percentile
Dividend Dropped Count (L10Y)
Ex-dividend Date
Div. Payment Date
MGA
MAGNA INTERNATIONAL INC
$15.62B3.40%43.80%$0.4750$1.8661%0
LEA
LEAR CORP
$8.26B2.13%31.70%$0.7700$3.0843%1
XPEL
XPEL INC
$1.55BN/A0.00%N/AN/AN/AN/A
ALV
AUTOLIV INC
$10.09B2.19%46.30%$0.6800$2.6844%0
MLR
MILLER INDUSTRIES INC
$574.00M1.46%14.10%$0.1900$0.7329%0
DAN
DANA INC
$1.84B3.14%153.80%$0.1000$0.4057%0
VC
VISTEON CORP
$3.22BN/A0.00%N/AN/AN/AN/A
CAAS
CHINA AUTOMOTIVE SYSTEMS INC
$101.73MN/A0.00%$0.1800N/AN/A0
GNTX
GENTEX CORP
$8.41B1.32%26.10%$0.1200$0.4827%12024-04-042024-04-17
BWA
BORGWARNER INC
$7.97B1.44%20.90%$0.1100$0.5029%1
MOD
MODINE MANUFACTURING CO
$4.97BN/A0.00%N/AN/AN/AN/A
ALSN
ALLISON TRANSMISSION HOLDINGS INC
$7.05B1.16%12.30%$0.2500$0.9423%0
MBLY
MOBILEYE GLOBAL INC
$26.36BN/A0.00%N/AN/AN/AN/A
HLLY
HOLLEY INC
$533.53MN/A0.00%N/AN/AN/AN/A
DORM
DORMAN PRODUCTS INC
$3.03BN/A0.00%N/AN/AN/AN/A
CVGI
COMMERCIAL VEHICLE GROUP INC
$217.63MN/A0.00%N/AN/AN/AN/A
MNRO
MONRO INC
$940.72M3.56%103.70%$0.2800$1.1264%0
ADNT
ADIENT PLC
$3.03BN/A0.00%$0.2750N/AN/A0
LKQ
LKQ CORP
$14.17B2.16%32.10%$0.3000$1.1543%02024-03-28
STRT
STRATTEC SECURITY CORP
$95.02MN/A0.00%$0.1400N/AN/A0
AEVA
AEVA TECHNOLOGIES INC
$186.79MN/A0.00%N/AN/AN/AN/A
APTV
APTIV PLC
$21.94BN/A0.00%$0.2200N/AN/A1
INVZ
INNOVIZ TECHNOLOGIES LTD
$219.96MN/A0.00%N/AN/AN/AN/A
HYLN
HYLIION HOLDINGS CORP
$307.79MN/A0.00%N/AN/AN/AN/A
FOXF
FOX FACTORY HOLDING CORP
$2.11BN/A0.00%N/AN/AN/AN/A
KNDI
KANDI TECHNOLOGIES GROUP INC
$180.83MN/A0.00%N/AN/AN/AN/A
SMP
STANDARD MOTOR PRODUCTS INC
$740.85M3.43%73.90%$0.2900$1.1662%0
PLOW
DOUGLAS DYNAMICS INC
$562.19M4.82%116.80%$0.2950$1.1877%02024-03-29
PHIN
PHINIA INC
$1.75B1.98%34.60%$0.2500$0.7540%0
FRSX
FORESIGHT AUTONOMOUS HOLDINGS LTD
$16.39MN/A0.00%N/AN/AN/AN/A
WPRT
WESTPORT FUEL SYSTEMS INC
$116.79MN/A0.00%N/AN/AN/AN/A
HSAI
HESAI GROUP
$591.98MN/A0.00%N/AN/AN/AN/A
THRM
GENTHERM INC
$1.79BN/A0.00%N/AN/AN/AN/A
LAZR
LUMINAR TECHNOLOGIES INC
$750.96MN/A0.00%N/AN/AN/AN/A
QS
QUANTUMSCAPE CORP
$3.08BN/A0.00%N/AN/AN/AN/A
SES
SES AI CORP
$589.24MN/A0.00%N/AN/AN/AN/A
SRI
STONERIDGE INC
$493.21MN/A0.00%N/AN/AN/AN/A
GGR
GOGORO INC
$403.40MN/A0.00%N/AN/AN/AN/A
LIDR
AEYE INC
$8.26MN/A0.00%N/AN/AN/AN/A
WKSP
WORKSPORT LTD
$11.66MN/A0.00%N/AN/AN/AN/A
ALLG
ALLEGO NV
$355.86MN/AN/AN/AN/AN/AN/A
GTX
GARRETT MOTION INC
$2.39BN/A0.00%N/AN/AN/AN/A
MPAA
MOTORCAR PARTS OF AMERICA INC
$158.09MN/A0.00%N/AN/AN/AN/A
SYPR
SYPRIS SOLUTIONS INC
$37.27MN/A0.00%$0.0200N/AN/A0
ECX
ECARX HOLDINGS INC
$658.01MN/A0.00%N/AN/AN/AN/A
AXL
AMERICAN AXLE & MANUFACTURING HOLDINGS INC
$863.98MN/A0.00%N/AN/AN/AN/A
CPS
COOPER-STANDARD HOLDINGS INC
$283.59MN/A0.00%N/AN/AN/AN/A
GT
GOODYEAR TIRE & RUBBER CO
$3.85BN/A0.00%$0.1600N/AN/A0
SUP
SUPERIOR INDUSTRIES INTERNATIONAL INC
$81.75MN/A0.00%$0.0900N/AN/A1
CREV
CARBON REVOLUTION PUBLIC LTD CO
N/AN/A0.00%N/AN/AN/AN/A

Auto Part Stocks FAQ

What are the best auto part stocks to buy right now in Mar 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 return 7.62% over the past year, overperforming other auto part stocks by 10 percentage points.

Magna International has an average 1 year price target of $61.86, an upside of 13.42% from Magna International's current stock price of $54.54.

Magna International stock has a consensus Hold recommendation according to Wall Street analysts. Of the 7 analysts covering Magna International, 14.29% have issued a Strong Buy rating, 0% have issued a Buy, 85.71% 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 5.77% over the past year, overperforming other auto part stocks by 8 percentage points.

Lear has an average 1 year price target of $164.17, an upside of 13.34% from Lear's current stock price of $144.85.

Lear stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Lear, 50% have issued a Strong Buy rating, 0% have issued a Buy, 50% 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 -13.3% over the past year, underperforming other auto part stocks by -11 percentage points.

Xpel has an average 1 year price target of $89.00, an upside of 58.76% from Xpel's current stock price of $56.06.

Xpel stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts 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 4.82%, which is 2 percentage points higher than the auto part industry average of 2.48%. 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. Monro (NASDAQ:MNRO)


Monro (NASDAQ:MNRO) has an annual dividend yield of 3.56%, which is 1 percentage points higher than the auto part industry average of 2.48%. 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.

3. Standard Motor Products (NYSE:SMP)


Standard Motor Products (NYSE:SMP) has an annual dividend yield of 3.43%, which is 1 percentage points higher than the auto part industry average of 2.48%. 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 73.9% indicates that its dividend yield is sustainable for the long-term.

Why are auto part stocks up?

Auto part stocks were up 2.3% in the last day, and up 1.8% over the last week. Quantumscape was the among the top gainers in the auto parts industry, gaining 8.17% yesterday.

QuantumScape shares are trading higher after the company announced it started customer shipments of Alpha-2 prototype battery cells.

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. China Automotive Systems (NASDAQ:CAAS)


China Automotive Systems (NASDAQ:CAAS) is the most undervalued auto part stock based on WallStreetZen's Valuation Score. China Automotive Systems has a valuation score of 100, which is 66 points higher than the auto part industry average of 34. It passed 7 out of 7 valuation due diligence checks.

China Automotive Systems's stock has dropped -40.98% in the past year. It has underperformed other stocks in the auto part industry by -39 percentage points.

2. Strattec Security (NASDAQ:STRT)


Strattec Security (NASDAQ:STRT) is the second most undervalued auto part stock based on WallStreetZen's Valuation Score. Strattec Security has a valuation score of 86, which is 52 points higher than the auto part industry average of 34. It passed 6 out of 7 valuation due diligence checks.

Strattec Security's stock has gained 5.04% in the past year. It has overperformed other stocks in the auto part industry by 7 percentage points.

3. Monro (NASDAQ:MNRO)


Monro (NASDAQ:MNRO) is the third most undervalued auto part stock based on WallStreetZen's Valuation Score. Monro has a valuation score of 86, which is 52 points higher than the auto part industry average of 34. It passed 6 out of 7 valuation due diligence checks.

Monro's stock has dropped -35.72% in the past year. It has underperformed other stocks in the auto part industry by -33 percentage points.

Are auto part stocks a good buy now?

43.33% of auto part stocks rated by analysts are a buy right now. On average, analysts expect auto part stocks to rise by 17.68% 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 -166.12x.
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