3 Stocks Pushing The Automotive Industry Lower

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The Automotive industry as a whole closed the day down 1.5% versus the S&P 500, which was down 1.6%. Laggards within the Automotive industry included Marine Products ( MPX), down 5.7%, Sypris Solutions ( SYPR), down 2.8%, Shiloh Industries ( SHLO), down 3.6%, Spartan Motors ( SPAR), down 3.2% and Remy International ( REMY), down 1.6%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

Shiloh Industries ( SHLO) is one of the companies that pushed the Automotive industry lower today. Shiloh Industries was down $0.64 (3.6%) to $16.98 on light volume. Throughout the day, 25,633 shares of Shiloh Industries exchanged hands as compared to its average daily volume of 41,500 shares. The stock ranged in price between $16.83-$17.61 after having opened the day at $17.61 as compared to the previous trading day's close of $17.62.

Shiloh Industries, Inc., together with its subsidiaries, provides light weighting, as well as noise, vibration, and harshness solutions to automotive, commercial vehicle, and other industrial markets. Shiloh Industries has a market cap of $309.2 million and is part of the consumer goods sector. Shares are down 9.6% year-to-date as of the close of trading on Wednesday.

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TheStreet Ratings rates Shiloh Industries as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from TheStreet Ratings analysis on SHLO go as follows:

  • The revenue growth came in higher than the industry average of 9.1%. Since the same quarter one year prior, revenues rose by 30.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 58.06% and other important driving factors, this stock has surged by 44.40% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, SHLO should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • SHILOH INDUSTRIES INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. During the past fiscal year, SHILOH INDUSTRIES INC increased its bottom line by earning $1.27 versus $0.79 in the prior year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Auto Components industry. The net income increased by 58.0% when compared to the same quarter one year prior, rising from $5.28 million to $8.35 million.

You can view the full analysis from the report here: Shiloh Industries Ratings Report

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