Sectors & IndustriesIndustrialsElectrical Equipment & Parts

Best Electrical Equipment & Part Stocks to Buy Now (2024)

Top electrical equipment & part stocks in 2024 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 58, which is 30 points higher than the electrical equipment & part industry average of 28. It passed 22 out of 38 due diligence checks and has strong fundamentals. Encore Wire has seen its stock return 70.44% over the past year, overperforming other electrical equipment & part stocks by 36 percentage points.

Encore Wire has an average 1 year price target of $292.50, an upside of 3.57% from Encore Wire's current stock price of $282.41.

Encore Wire stock has a consensus Hold recommendation according to Wall Street analysts. Of the 2 analysts covering Encore Wire, 0% have issued a Strong Buy rating, 0% have issued a Buy, 100% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Pioneer Power Solutions (NASDAQ:PPSI) is the second best electrical equipment & part stock with a Zen Score of 57, which is 29 points higher than the electrical equipment & part industry average of 28. It passed 18 out of 33 due diligence checks and has strong fundamentals. Pioneer Power Solutions has seen its stock lose -41.96% over the past year, underperforming other electrical equipment & part stocks by -76 percentage points.

Pioneer Power Solutions has an average 1 year price target of $10.50, an upside of 185.33% from Pioneer Power Solutions's current stock price of $3.68.

Pioneer Power Solutions stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Pioneer Power Solutions, 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.

Powell Industries (NASDAQ:POWL) is the third best electrical equipment & part stock with a Zen Score of 56, which is 28 points higher than the electrical equipment & part industry average of 28. It passed 21 out of 38 due diligence checks and has strong fundamentals. Powell Industries has seen its stock return 272.8% over the past year, overperforming other electrical equipment & part stocks by 238 percentage points.

Out of 12 electrical equipment & part stocks that have issued dividends in the past year, the 3 electrical equipment & part stocks with the highest dividend yields are:

Energizer Holdings (NYSE:ENR) has an annual dividend yield of 4.18%, which is 3 percentage points higher than the electrical equipment & part industry average of 0.97%. 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 91.6% indicates that its dividend yield might not be sustainable for the long-term.

Espey Mfg & Electronics (NYSEMKT:ESP) has an annual dividend yield of 2.53%, which is 2 percentage points higher than the electrical equipment & part industry average of 0.97%. Espey Mfg & Electronics's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Espey Mfg & Electronics's dividend has not shown consistent growth over the last 10 years.

Espey Mfg & Electronics's dividend payout ratio of 26.5% indicates that its dividend yield is sustainable for the long-term.

Hubbell (NYSE:HUBB) has an annual dividend yield of 1.17%, which is the same as the electrical equipment & part industry average of 0.97%. Hubbell's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Hubbell's dividend has shown consistent growth over the last 10 years.

Hubbell's dividend payout ratio of 32.4% indicates that its dividend yield is sustainable for the long-term.

Electrical equipment & part stocks were up 0.4% in the last day, and up 2.46% over the last week. Vertiv Holdings Co was the among the top gainers in the electrical equipment & parts industry, gaining 6.82% yesterday.

Vertiv Holdings shares are trading higher after multiple firms raised their respective price targets on the stock. Also, yesterday the company reported better-than-expected Q1 financial results and raised its 2024 guidance.

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

Advanced Energy Industries (NASDAQ:AEIS) is the most undervalued electrical equipment & part stock based on WallStreetZen's Valuation Score. Advanced Energy Industries has a valuation score of 86, which is 60 points higher than the electrical equipment & part industry average of 26. It passed 6 out of 7 valuation due diligence checks.

Advanced Energy Industries's stock has gained 7.32% in the past year. It has underperformed other stocks in the electrical equipment & part industry by -27 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 60 points higher than the electrical equipment & part industry average of 26. It passed 6 out of 7 valuation due diligence checks.

Encore Wire's stock has gained 70.44% in the past year. It has overperformed other stocks in the electrical equipment & part industry by 36 percentage points.

Asia Pacific Wire & Cable (NASDAQ:APWC) is the third most undervalued electrical equipment & part stock based on WallStreetZen's Valuation Score. Asia Pacific Wire & Cable has a valuation score of 71, which is 45 points higher than the electrical equipment & part industry average of 26. It passed 5 out of 7 valuation due diligence checks.

Asia Pacific Wire & Cable's stock has dropped -10.46% in the past year. It has underperformed other stocks in the electrical equipment & part industry by -45 percentage points.