Investors looking for stocks in the Automotive - Domestic sector might want to consider either Paccar (PCAR) or Tesla (TSLA). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Paccar and Tesla are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. Investors should feel comfortable knowing that PCAR likely has seen a stronger improvement to its earnings outlook than TSLA has recently. But this is just one factor that value investors are interested in.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

PCAR currently has a forward P/E ratio of 14.14, while TSLA has a forward P/E of 129. We also note that PCAR has a PEG ratio of 2.78. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. TSLA currently has a PEG ratio of 7.55.

Another notable valuation metric for PCAR is its P/B ratio of 3.10. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, TSLA has a P/B of 19.38.

These metrics, and several others, help PCAR earn a Value grade of A, while TSLA has been given a Value grade of D.

PCAR stands above TSLA thanks to its solid earnings outlook, and based on these valuation figures, we also feel that PCAR is the superior value option right now.

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