One company that should be on your radar is Tesla Motors, Inc. ( TSLA ). The stock of this automobile company has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For TSLA's full year estimate, we have seen 1 estimate go higher in the past 30 days, compared to no downward revision. This trend has helped the consensus estimate to trend higher, going from 0 cents a share a month ago to its current level at 6 cents.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, TSLA has seen some pretty solid trading lately, as the company has moved higher by 11.3% in the past month.
If Tesla can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put TSLA on your watch list for the future.
Other top-ranked stocks worth considering in this space include Motorcar Parts of America Inc. ( MPAA ), Cummins Inc. ( CMI ) and Dongfeng Motor Group Company Limited ( DNFGY ). While Motorcar Parts holds a Zacks Rank #1 (Strong Buy), Cummins Inc. and Dongfeng Motor Group hold a Zacks Rank #2 (Buy).
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