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The Zacks Analyst Blog Highlights: Fox Factory Holding, PACCAR, Dana, Meritor and Ferrari
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For Immediate Release
Chicago, IL – October 05, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Fox Factory Holding Corp (Nasdaq:(FOXF - Free Report) – Free Report), PACCAR Inc (Nasdaq:(PCAR - Free Report) – Free Report), Dana Incorporated (NYSE:(DAN - Free Report) – Free Report), Meritor, Inc. (NYSE: – Free Report) and Ferrari N.V. (BIT:(RACE - Free Report) – Free Report).
Here are highlights from Wednesday’s Analyst Blog:
September Auto Sales Rev Up: 5 Stock Picks
U.S. auto sales rebounded in September following a prolonged period of year-over-year declines. General Motors and Ford’s pickups and popular crossovers along with Toyota’s SUVs primarily boosted the sales figures.
Americans bought cars and light trucks at the fastest rate in a dozen years in September as consumers in hurricane-hit areas of the country replaced flood-damaged cars. The momentum is expected to continue as many are still on the lookout for better bargains. Given the positive trends, investing in stocks related to the auto industry seems sensible.
Harvey & Irma Drive Automakers’ September Sales
The auto industry reversed a year-long downward trend and posted solid uptick in car sales in September. According to Autodata Corp, the seasonally adjusted annual sales rate for all U.S. light vehicles touched 18.57 million units last month, up from 16.14 million in the prior month. It also marked the highest sales rate since July 2005.
Auto sales increased as many drivers in hurricane-affected locations, in particular Texas, replaced damaged cars. Almost 500,000 cars were destroyed after hurricane Harvey, the first major hurricane to hit the U.S. mainland in almost 12 years, had put vast areas under water. As per industry estimates, around 200,000 cars were damaged during hurricane Irma that had hit the Sun Shine state of Florida.
Several analysts predicted that such hurricanes would help automakers register their first monthly gain this year. Chief investment strategist at Cascend Securities, Eric Ross added that car sales may increase in the later part of 2017 and beginning of 2018. This is because many have been mulling over the purchase of new automobiles since May. Such online activities are primarily done three to four months before the real purchase takes place.
GM, Ford, Toyota Lead Rebound in Car Sales
The three largest sellers in the United States – General Motors, Ford Motor and Toyota – posted strong sales numbers in September following months of declines. Honda and Nissan also posted higher-than-expected sales.
General Motors – The No. 1 U.S. automaker led the pack with 279,176 cars and trucks sold in the United States in September, up 11.9% on a year-over-year basis. This represented a nearly 12% jump in sales compared to the same period last year. Such a feat was possible owing to a 43% increase in sales of crossovers and 10% uptick in pickup trucks, which overshadowed an 11% decline in passenger cars. Kurt McNeil, U.S. vice president of GM’s sales operations said that “our new crossovers from Chevrolet, Buick, GMC and Cadillac have been very well-received, and Chevrolet had an outstanding month with the Silverado and Colorado.”
General Motor’s inventory level dropped to 76 days supply in September from 88 days in August. This is a positive, especially, when analysts criticized the automaker for having oversupply of new vehicles. In fact, General Motors claimed that it will reduce its inventory level further to 70 days by the end of the year.
Ford – The automaker sold 221,643 vehicles in total, gaining 8.9% on a year-over-year basis. Its F-Series pickup sales surged 21.4%, with 82,302 trucks sold. Demand for its Super Duty, with the premium Lariat, King Ranch and Platinum trim levels, remained strong.
Ford added that sales of its Explorer, Sport and SportTrac SUVs totaled 21,207. Mark LaNeve, Ford vice president, U.S. marketing, sales and service added that their “business was strong nationwide, with retail increases in 12 of our 21 sales regions, with particular strength in Houston.”
Toyota– The automaker sold 226,632 cars in total, up 14.9% on a year-over-year basis. The automaker’s gains were broad based, with its RAV4 compact SUV climbing 44% after a new Canadian assembly plant gained momentum. Sales of its flagship product Camry also jumped after the Georgetown, KY, assembly plant switched to a new generation of vehicle manufacturing methods.
Toyota’s light trucks, including Tundra, Tacoma, Highlander and 4Runner, gained as well. Overall, the segment rose nearly 29%. David Christ, vice president of U.S. sales for the Toyota brand, said that last month sales had got a “significant boost right away” from post-hurricane recovery efforts, especially, in Texas.
Here’s a look at how other two major players performed in September:
5 Solid Choices
With U.S. car sales gaining momentum on post-hurricane vehicle demand, it would be prudent to invest in certain stocks related to the auto industry. We have, thus, selected stocks that flaunt a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Fox Factory Holding Corp (Nasdaq:(FOXF - Free Report) – Free Report) is a designer, manufacturer and marketer of suspension products used primarily for on-road vehicles. The company, which is part of the Zacks Automotive - Domestic industry, has a Zacks Rank #2.
The Zacks Consensus Estimate for its current-year earnings increased 4.2% over the last 90 days. The company’s expected growth rate for the current and next year are 21.4% and 11.2%, respectively.
PACCAR Inc (Nasdaq:(PCAR - Free Report) – Free Report) is a global technology company engaged in the design, manufacture and customer support of premium light, medium and heavy-duty trucks. The company, which is part of the Zacks Automotive - Domestic industry, carries a Zacks Rank #2.
The Zacks Consensus Estimate for its current-year earnings increased 6.4% over the last 90 days. The company’s expected growth rate for the current and next year are 3.3% and 10.8%, respectively.
Dana Incorporated (NYSE:(DAN - Free Report) – Free Report) is provider of technology driveline, sealing and thermal-management products. The company’s operating segment consists of Light Vehicle Driveline Technologies and Commercial Vehicle Driveline Technologies. The company, which is part of the Zacks Automotive - Original Equipment industry, has a Zacks Rank #2.
The Zacks Consensus Estimate for its current-year earnings increased 19.5% over the last 90 days. The company’s expected growth rate for the current and next year are 20.1% and 8.3%, respectively. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meritor, Inc. (NYSE: – Free Report) supplies drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. The company, which is part of the Zacks Automotive - Original Equipment industry, has a Zacks Rank #1.
The Zacks Consensus Estimate for its current-year earnings rose 19.7% over the last 90 days. The company’s expected growth rate for the current and next year are 3.7% and 37.9%, respectively.
The Zacks Consensus Estimate for its current-year earnings rose 10.8% over the last 90 days. The company’s expected growth rate for the current and next year are 23.5% and 13.3%, respectively.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Fox Factory Holding, PACCAR, Dana, Meritor and Ferrari
For Immediate Release
Chicago, IL – October 05, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Fox Factory Holding Corp (Nasdaq:(FOXF - Free Report) – Free Report), PACCAR Inc (Nasdaq:(PCAR - Free Report) – Free Report), Dana Incorporated (NYSE:(DAN - Free Report) – Free Report), Meritor, Inc. (NYSE: – Free Report) and Ferrari N.V. (BIT:(RACE - Free Report) – Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Wednesday’s Analyst Blog:
September Auto Sales Rev Up: 5 Stock Picks
U.S. auto sales rebounded in September following a prolonged period of year-over-year declines. General Motors and Ford’s pickups and popular crossovers along with Toyota’s SUVs primarily boosted the sales figures.
Americans bought cars and light trucks at the fastest rate in a dozen years in September as consumers in hurricane-hit areas of the country replaced flood-damaged cars. The momentum is expected to continue as many are still on the lookout for better bargains. Given the positive trends, investing in stocks related to the auto industry seems sensible.
Harvey & Irma Drive Automakers’ September Sales
The auto industry reversed a year-long downward trend and posted solid uptick in car sales in September. According to Autodata Corp, the seasonally adjusted annual sales rate for all U.S. light vehicles touched 18.57 million units last month, up from 16.14 million in the prior month. It also marked the highest sales rate since July 2005.
Auto sales increased as many drivers in hurricane-affected locations, in particular Texas, replaced damaged cars. Almost 500,000 cars were destroyed after hurricane Harvey, the first major hurricane to hit the U.S. mainland in almost 12 years, had put vast areas under water. As per industry estimates, around 200,000 cars were damaged during hurricane Irma that had hit the Sun Shine state of Florida.
Several analysts predicted that such hurricanes would help automakers register their first monthly gain this year. Chief investment strategist at Cascend Securities, Eric Ross added that car sales may increase in the later part of 2017 and beginning of 2018. This is because many have been mulling over the purchase of new automobiles since May. Such online activities are primarily done three to four months before the real purchase takes place.
GM, Ford, Toyota Lead Rebound in Car Sales
The three largest sellers in the United States – General Motors, Ford Motor and Toyota – posted strong sales numbers in September following months of declines. Honda and Nissan also posted higher-than-expected sales.
General Motors – The No. 1 U.S. automaker led the pack with 279,176 cars and trucks sold in the United States in September, up 11.9% on a year-over-year basis. This represented a nearly 12% jump in sales compared to the same period last year. Such a feat was possible owing to a 43% increase in sales of crossovers and 10% uptick in pickup trucks, which overshadowed an 11% decline in passenger cars. Kurt McNeil, U.S. vice president of GM’s sales operations said that “our new crossovers from Chevrolet, Buick, GMC and Cadillac have been very well-received, and Chevrolet had an outstanding month with the Silverado and Colorado.”
General Motor’s inventory level dropped to 76 days supply in September from 88 days in August. This is a positive, especially, when analysts criticized the automaker for having oversupply of new vehicles. In fact, General Motors claimed that it will reduce its inventory level further to 70 days by the end of the year.
Ford – The automaker sold 221,643 vehicles in total, gaining 8.9% on a year-over-year basis. Its F-Series pickup sales surged 21.4%, with 82,302 trucks sold. Demand for its Super Duty, with the premium Lariat, King Ranch and Platinum trim levels, remained strong.
Ford added that sales of its Explorer, Sport and SportTrac SUVs totaled 21,207. Mark LaNeve, Ford vice president, U.S. marketing, sales and service added that their “business was strong nationwide, with retail increases in 12 of our 21 sales regions, with particular strength in Houston.”
Toyota– The automaker sold 226,632 cars in total, up 14.9% on a year-over-year basis. The automaker’s gains were broad based, with its RAV4 compact SUV climbing 44% after a new Canadian assembly plant gained momentum. Sales of its flagship product Camry also jumped after the Georgetown, KY, assembly plant switched to a new generation of vehicle manufacturing methods.
Toyota’s light trucks, including Tundra, Tacoma, Highlander and 4Runner, gained as well. Overall, the segment rose nearly 29%. David Christ, vice president of U.S. sales for the Toyota brand, said that last month sales had got a “significant boost right away” from post-hurricane recovery efforts, especially, in Texas.
Here’s a look at how other two major players performed in September:
5 Solid Choices
With U.S. car sales gaining momentum on post-hurricane vehicle demand, it would be prudent to invest in certain stocks related to the auto industry. We have, thus, selected stocks that flaunt a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Fox Factory Holding Corp (Nasdaq:(FOXF - Free Report) – Free Report) is a designer, manufacturer and marketer of suspension products used primarily for on-road vehicles. The company, which is part of the Zacks Automotive - Domestic industry, has a Zacks Rank #2.
The Zacks Consensus Estimate for its current-year earnings increased 4.2% over the last 90 days. The company’s expected growth rate for the current and next year are 21.4% and 11.2%, respectively.
PACCAR Inc (Nasdaq:(PCAR - Free Report) – Free Report) is a global technology company engaged in the design, manufacture and customer support of premium light, medium and heavy-duty trucks. The company, which is part of the Zacks Automotive - Domestic industry, carries a Zacks Rank #2.
The Zacks Consensus Estimate for its current-year earnings increased 6.4% over the last 90 days. The company’s expected growth rate for the current and next year are 3.3% and 10.8%, respectively.
Dana Incorporated (NYSE:(DAN - Free Report) – Free Report) is provider of technology driveline, sealing and thermal-management products. The company’s operating segment consists of Light Vehicle Driveline Technologies and Commercial Vehicle Driveline Technologies. The company, which is part of the Zacks Automotive - Original Equipment industry, has a Zacks Rank #2.
The Zacks Consensus Estimate for its current-year earnings increased 19.5% over the last 90 days. The company’s expected growth rate for the current and next year are 20.1% and 8.3%, respectively. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meritor, Inc. (NYSE: – Free Report) supplies drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. The company, which is part of the Zacks Automotive - Original Equipment industry, has a Zacks Rank #1.
The Zacks Consensus Estimate for its current-year earnings rose 19.7% over the last 90 days. The company’s expected growth rate for the current and next year are 3.7% and 37.9%, respectively.
Ferrari N.V. (BIT:(RACE - Free Report) – Free Report) is engaged in designing, manufacturing and selling of sports cars. The company, which is part of the Zacks Automotive - Original Equipment industry, has a Zacks Rank #1.
The Zacks Consensus Estimate for its current-year earnings rose 10.8% over the last 90 days. The company’s expected growth rate for the current and next year are 23.5% and 13.3%, respectively.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>.
Get the full Report on FOXF - FREE
Get the full Report on PCAR - FREE
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.