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The Zacks Analyst Blog Highlights: Tesla, Ford, PACCAR and CarMax

Zacks Equity Research

For Immediate Release

Chicago, IL –July 12, 2019 – 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: Tesla, Inc. TSLA, Ford Motor Company F, PACCAR Inc PCAR and CarMax, Inc. KMX.

Here are highlights from Thursday’s Analyst Blog:

Tesla (TSLA) Prepares to Increase Production in California

Tesla, Inc.is likely to raise production at its California car plant and is planning to hire more employees, per Bloomberg. Notably, in second-quarter 2019, the electric vehicle maker registered a record number of deliveries. After several job cuts in the past year, the company has reversed its stance. Its decision to increase production indicates that it is confident about the sustainability in demand for Model 3 vehicles.

Notably, in second-quarter 2019, the company posted record 95,200 Model 3 deliveries. However, during the same time frame, it delivered total 17,650 Model S sedans and Model X crossovers, down 21% year over year. In fact, the record sedan delivery is aiding the company to overcome waning Model S sales.

Tesla plans to produce considerably more than 360,000-400,000 vehicles that it expects to deliver in 2019. The output may reach 500,000 vehicles across the globe in 2019 if its factory near Shanghai can reach “volume production” early in fourth-quarter 2019. The electric-car maker is preparing for increasing output at its Fremont, CA-based factory.

In the past month, shares of Tesla have outperformed the industry it belongs to. Shares of the company rallied 14.2% compared with the industry’s rise of 5.6%.

Zacks Rank & Stocks to Consider

Tesla currently carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the auto space are Ford Motor Company, PACCAR Inc and CarMax, Inc. While Ford currently sports a Zacks Rank #1 (Strong Buy), both PACCAR and CarMax has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Ford has an expected long-term growth rate of 7.3%. In the past six months, shares of the company have grown 12.5%.

PACCAR has an expected long-term growth rate of 8.4%. In the past six months, shares of the company have gained 17.6%.

CarMax has an expected long-term growth rate of 12.6%. In the past six months, shares of the company have rallied 34.8%.

More Stock News: This Is Bigger than the iPhone!

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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.


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