Sectors & IndustriesIndustrialsElectrical Equipment & Parts

Best Electrical Equipment & Part Stocks to Buy Now (2023)

Top electrical equipment & part stocks in 2023 ranked by overall Zen Score. See the best electrical equipment & part stocks to buy now, according to analyst forecasts for the electrical equipment & parts industry.

According to Zen Score, the 3 best electrical equipment & part stocks to buy right now are:

Encore Wire (NASDAQ:WIRE) is the top electrical equipment & part stock with a Zen Score of 61, which is 33 points higher than the electrical equipment & part industry average of 28. It passed 23 out of 38 due diligence checks and has strong fundamentals. Encore Wire has seen its stock return 62.47% over the past year, overperforming other electrical equipment & part stocks by 49 percentage points.

Preformed Line Products Co (NASDAQ:PLPC) is the second best electrical equipment & part stock with a Zen Score of 53, which is 25 points higher than the electrical equipment & part industry average of 28. It passed 20 out of 38 due diligence checks and has strong fundamentals. Preformed Line Products Co has seen its stock return 101.89% over the past year, overperforming other electrical equipment & part stocks by 88 percentage points.

Advanced Energy Industries (NASDAQ:AEIS) is the third best electrical equipment & part stock with a Zen Score of 46, which is 18 points higher than the electrical equipment & part industry average of 28. It passed 18 out of 38 due diligence checks and has strong fundamentals. Advanced Energy Industries has seen its stock return 13.85% over the past year.

Advanced Energy Industries has an average 1 year price target of $108.67, an upside of 10.88% from Advanced Energy Industries's current stock price of $98.00.

Advanced Energy Industries stock has a consensus Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Advanced Energy Industries, 33.33% have issued a Strong Buy rating, 33.33% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 17 electrical equipment & part stocks that have issued dividends in the past year, the 3 electrical equipment & part stocks with the highest dividend yields are:

Hollysys Automation Technologies (NASDAQ:HOLI) has an annual dividend yield of N/A, which is N/A percentage points lower than the electrical equipment & part industry average of 1.14%. Hollysys Automation Technologies's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Hollysys Automation Technologies's dividend has not shown consistent growth over the last 10 years.

Hollysys Automation Technologies's dividend payout ratio of 18.1% indicates that its dividend yield is sustainable for the long-term.

Energizer Holdings (NYSE:ENR) has an annual dividend yield of 3.46%, which is 2 percentage points higher than the electrical equipment & part industry average of 1.14%. Energizer Holdings's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Energizer Holdings's dividend has shown consistent growth over the last 10 years.

Energizer Holdings's dividend payout ratio of -34.2% indicates that its dividend yield might not be sustainable for the long-term.

Abb (NYSE:ABB) has an annual dividend yield of 2.68%, which is 2 percentage points higher than the electrical equipment & part industry average of 1.14%. Abb's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Abb's dividend has shown consistent growth over the last 10 years.

Abb's dividend payout ratio of 68.2% indicates that its dividend yield is sustainable for the long-term.

Electrical equipment & part stocks were up 1.59% in the last day, and up 5.36% over the last week. Pioneer Power Solutions was the among the top gainers in the electrical equipment & parts industry, gaining 20.14% yesterday.

Shares of several companies in the industrials sector are trading higher amid overall market strength after PCE data came in below estimates, which has raised hopes of slowing inflation.

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

Preformed Line Products Co (NASDAQ:PLPC) is the most undervalued electrical equipment & part stock based on WallStreetZen's Valuation Score. Preformed Line Products Co has a valuation score of 86, which is 57 points higher than the electrical equipment & part industry average of 29. It passed 6 out of 7 valuation due diligence checks.

Preformed Line Products Co's stock has gained 101.89% in the past year. It has overperformed other stocks in the electrical equipment & part industry by 88 percentage points.

Encore Wire (NASDAQ:WIRE) is the second most undervalued electrical equipment & part stock based on WallStreetZen's Valuation Score. Encore Wire has a valuation score of 86, which is 57 points higher than the electrical equipment & part industry average of 29. It passed 6 out of 7 valuation due diligence checks.

Encore Wire's stock has gained 62.47% in the past year. It has overperformed other stocks in the electrical equipment & part industry by 49 percentage points.

Hayward Holdings (NYSE:HAYW) is the third most undervalued electrical equipment & part stock based on WallStreetZen's Valuation Score. Hayward Holdings has a valuation score of 71, which is 42 points higher than the electrical equipment & part industry average of 29. It passed 5 out of 7 valuation due diligence checks.

Hayward Holdings's stock has dropped -29.48% in the past year. It has underperformed other stocks in the electrical equipment & part industry by -43 percentage points.