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 63, which is 33 points higher than the electrical equipment & part industry average of 30. It passed 24 out of 38 due diligence checks and has strong fundamentals. Encore Wire has seen its stock return 36.45% over the past year, overperforming other electrical equipment & part stocks by 30 percentage points.

Encore Wire has an average 1 year price target of $190.00, an upside of 8.71% from Encore Wire's current stock price of $174.77.

Encore Wire stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Encore Wire, 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.

Preformed Line Products Co (NASDAQ:PLPC) is the second best electrical equipment & part stock with a Zen Score of 53, which is 23 points higher than the electrical equipment & part industry average of 30. It passed 20 out of 38 due diligence checks and has strong fundamentals. Preformed Line Products Co has seen its stock return 90.51% over the past year, overperforming other electrical equipment & part stocks by 84 percentage points.

Hubbell (NYSE:HUBB) is the third best electrical equipment & part stock with a Zen Score of 51, which is 21 points higher than the electrical equipment & part industry average of 30. It passed 19 out of 38 due diligence checks and has strong fundamentals. Hubbell has seen its stock return 26.51% over the past year, overperforming other electrical equipment & part stocks by 20 percentage points.

Hubbell has an average 1 year price target of $227.86, a downside of -1.05% from Hubbell's current stock price of $230.28.

Hubbell stock has a consensus Hold recommendation according to Wall Street analysts. Of the 7 analysts covering Hubbell, 14.29% have issued a Strong Buy rating, 0% have issued a Buy, 57.14% have issued a hold, while 14.29% have issued a Sell rating, and 14.29% 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:

Energizer Holdings (NYSE:ENR) has an annual dividend yield of 3.63%, which is 2 percentage points higher than the electrical equipment & part industry average of 1.23%. 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 2.71%, which is 1 percentage points higher than the electrical equipment & part industry average of 1.23%. 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.

Powell Industries (NASDAQ:POWL) has an annual dividend yield of 2.53%, which is 1 percentage points higher than the electrical equipment & part industry average of 1.23%. Powell Industries's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Powell Industries's dividend has shown consistent growth over the last 10 years.

Powell Industries's dividend payout ratio of 68.9% indicates that its dividend yield is sustainable for the long-term.

Electrical equipment & part stocks were down -0.51% in the last day, and up 0.25% over the last week.

We couldn't find a catalyst for why electrical equipment & part stocks are down.

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 58 points higher than the electrical equipment & part industry average of 28. It passed 6 out of 7 valuation due diligence checks.

Preformed Line Products Co's stock has gained 90.51% in the past year. It has overperformed other stocks in the electrical equipment & part industry by 84 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 58 points higher than the electrical equipment & part industry average of 28. It passed 6 out of 7 valuation due diligence checks.

Encore Wire's stock has gained 36.45% in the past year. It has overperformed other stocks in the electrical equipment & part industry by 30 percentage points.

Hollysys Automation Technologies (NASDAQ:HOLI) is the third most undervalued electrical equipment & part stock based on WallStreetZen's Valuation Score. Hollysys Automation Technologies has a valuation score of 71, which is 43 points higher than the electrical equipment & part industry average of 28. It passed 5 out of 7 valuation due diligence checks.

Hollysys Automation Technologies's stock has dropped -1.99% in the past year. It has underperformed other stocks in the electrical equipment & part industry by -8 percentage points.