Per Reuters, Tesla Inc. (TSLA - Free Report) reported to recall 11,000 units of its Model X sport utility vehicles, globally . The vehicles to be recalled have a defective rear seat locking system that increases chances of the seats falling forward during a crash, thus putting the passengers in serious peril.
The recalled Model X vehicles were manufactured between Oct 28, 2016 and Aug 16, 2017.
Per Tesla, nearly 3% of the total units recalled has a faulty lock issue.
Tesla Inc. Price and Consensus
The company will mail their customers, who own the affected Model X vehicles and will also arrange for a much-needed service session. Good news is that fixing the issue will be hassle-free as no additional parts will be fitted in. Only a few cables in the second row fold-flat seats require to be adjusted.
Earlier in April, Tesla had recalled roughly 53,000 2016 Model S and Model X vehicles due to a fault in the parking brake.
Price Performance
Shares of Tesla have surged 66.4% year to date, substantially outperforming the industry’s 26.3% rally.
Zacks Rank & Key Picks
Tesla carries a Zacks Rank #3 (Hold). Some better-ranked auto stocks are Adient PLC (ADNT - Free Report) , Cummins (CMI - Free Report) and Daimler AG , each holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Adient has an expected long-term earnings growth rate of 10.6%.
Cummins has an expected long-term earnings growth rate of 12%.
Daimler has an expected long-term earnings growth rate of 2.8%.
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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.
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Per Reuters, Tesla Inc. (TSLA - Free Report) reported to recall 11,000 units of its Model X sport utility vehicles, globally . The vehicles to be recalled have a defective rear seat locking system that increases chances of the seats falling forward during a crash, thus putting the passengers in serious peril.
The recalled Model X vehicles were manufactured between Oct 28, 2016 and Aug 16, 2017.
Per Tesla, nearly 3% of the total units recalled has a faulty lock issue.
Tesla Inc. Price and Consensus
The company will mail their customers, who own the affected Model X vehicles and will also arrange for a much-needed service session. Good news is that fixing the issue will be hassle-free as no additional parts will be fitted in. Only a few cables in the second row fold-flat seats require to be adjusted.
Earlier in April, Tesla had recalled roughly 53,000 2016 Model S and Model X vehicles due to a fault in the parking brake.
Price Performance
Shares of Tesla have surged 66.4% year to date, substantially outperforming the industry’s 26.3% rally.
Zacks Rank & Key Picks
Tesla carries a Zacks Rank #3 (Hold). Some better-ranked auto stocks are Adient PLC (ADNT - Free Report) , Cummins (CMI - Free Report) and Daimler AG , each holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Adient has an expected long-term earnings growth rate of 10.6%.
Cummins has an expected long-term earnings growth rate of 12%.
Daimler has an expected long-term earnings growth rate of 2.8%.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure.
See these buy recommendations now >>
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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