You don’t have to be an industry insider to recognize that the auto business is taking a big hit during this quarantine. Dealerships are open, but they are facing insurmountable odds. Putting your Hancock on a sales agreement often times means committing significant financial resources not only upfront but for an extended period of time. That’s just not the sort of thing consumers do when they’ve lost their jobs or are concerned with the future. Low rates and deals help get folks in the door, but there is nothing easy about converting those folks to sales.
It’s no wonder that the Automotive – Retail and Wholesale industry is in the Bottom 1% of our Zacks Industry Rank. Today’s Bear of the Day is a company in that industry, Zacks Rank #5 (Strong Sell) Group 1 Automotive (GPI - Free Report) .
The reason for the unfavorable Zacks Rank lies in the series of earnings estimate revisions coming to the downside from analysts all over Wall Street. Over the last thirty days, two analysts have slashed their earnings estimates for the current quarter while four have done so for the current year. The bearish moves have cut current quarter consensus EPS from $3.16 ninety days ago to a loss of $1.96. Current year numbers have come down from $12.05 all the way to $5.97. That would be a contraction of 45.38% year-over-year.
With the industry down near the bottom of our Zacks Industry Rank, there are no stocks with a Zacks Rank higher than a Zacks Rank #3 (Hold). These two stocks are Lithia Motors (LAD - Free Report) and Titan Machinery (TITN - Free Report) .
5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
You don’t have to be an industry insider to recognize that the auto business is taking a big hit during this quarantine. Dealerships are open, but they are facing insurmountable odds. Putting your Hancock on a sales agreement often times means committing significant financial resources not only upfront but for an extended period of time. That’s just not the sort of thing consumers do when they’ve lost their jobs or are concerned with the future. Low rates and deals help get folks in the door, but there is nothing easy about converting those folks to sales.
It’s no wonder that the Automotive – Retail and Wholesale industry is in the Bottom 1% of our Zacks Industry Rank. Today’s Bear of the Day is a company in that industry, Zacks Rank #5 (Strong Sell) Group 1 Automotive (GPI - Free Report) .
The reason for the unfavorable Zacks Rank lies in the series of earnings estimate revisions coming to the downside from analysts all over Wall Street. Over the last thirty days, two analysts have slashed their earnings estimates for the current quarter while four have done so for the current year. The bearish moves have cut current quarter consensus EPS from $3.16 ninety days ago to a loss of $1.96. Current year numbers have come down from $12.05 all the way to $5.97. That would be a contraction of 45.38% year-over-year.
With the industry down near the bottom of our Zacks Industry Rank, there are no stocks with a Zacks Rank higher than a Zacks Rank #3 (Hold). These two stocks are Lithia Motors (LAD - Free Report) and Titan Machinery (TITN - Free Report) .
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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