Stocks & Investing
Stocks and Investing
Stocks and Investing
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CHICAGO--([ BUSINESS WIRE ])--Stocks featured in this weeka™s Zacks Industry Rank analysis include Ford (NYSE: [ F ]) and Paccar (Nasdaq: [ PCAR ]).
Zacks Industry Rank Analysis is written by Dirk Van Dijk, CFA, Chief Equity Strategist, Zacks.com.
On the Road Again
The Auto-Tires-Trucks sector is currently in second place among all the economic sectors with an average Zacks Rank of 2.53, an improvement from 2.59 last week. While the Auto industry is very large and important, it does not have a lot of domestic companies at its apex anymore. The Domestic Auto industry has only two firms in it, and thus it is not one that we would usually talk about in this space. It is however tied for 7th place among the 256 industries we rank, with an average score of 2.00.
Ford (NYSE: [ F ]) has a rank of #1, while Paccar (Nasdaq: [ PCAR ]) has a rank of #3. However, a number of closely related industries are also showing up as attractive based on the Zacks Rank. Together, they tell a tale of the U.S. Auto industry moving into a higher gear.
The industry faced extremely rough times a year ago, and two of the biggest firms went bankrupt. That made life tough for the whole supply chain that surrounded them. Auto sales have since picked up, but still are far below the levels prior to the recession.
The pre-recession sales rates of 16 to 17 million cars and truck a year will probably not be seen for a long time to come. The industry, though, has done an excellent job of cutting costs and adapting to the new slower sales pace. As they have done so, they have been able to pleasantly surprise the Street.
One of the industries that is tied with Autos for 7th place is the Tire industry. It is also small in terms of the number of firms, at just three. It showed an enormous improvement, rising 55 slots as its average score rose to 2.00 from 2.67. Of course that sort of improvement is easier if you only have three firms in the industry than if there are 30.
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