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This Top Auto, Tires and Trucks Stock is a #1 (Strong Buy): Why It Should Be on Your Radar

It doesn't matter if you're a growth, value, income, or momentum-focused investor -- building a successful investment portfolio takes skill, research, and a little bit of luck.

Should You Buy #1 (Strong Buy)-Ranked General Motors Company (GM) for Your Portfolio?

General Motors Company was upgraded to the Zacks Rank #1 list on February 15, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

One of the world’s largest automakers, General Motors held the largest share of the U.S. auto market at 16.2% in 2023. Headquartered in Detroit, the auto giant has had a long and checkered history. Founded in 1908, the company rose to dominate the U.S. industry. However, hit by the financial crisis, General Motors filed for bankruptcy on Jun 1, 2009. Just within 40 days, the firm emerged from bankruptcy. In 2010, the company launched its IPO – the biggest in U.S. history at that time – and has been steadily profitable since then. From going bankrupt in 2009 to becoming one of the world’s best-run car companies, General Motors has indeed come a long way.

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For fiscal 2024, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.31 to $9 per share. GM boasts an average earnings surprise of 20%.

Analysts are expecting earnings to grow 17.2% for the current fiscal year, with revenue forecasted to rise 1.8%.

Even more impressive, GM has gained in value over the past four weeks, up 13.8% compared to the S&P 500's gain of 3.1%.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, General Motors Company could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.

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General Motors Company (GM) : Free Stock Analysis Report

Zacks Investment Research