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With so much talk of the rebound in growth stocks in 2023, it might be lost on many that there are actually value stocks rallying this year as well. 

In fact, some value stocks are actually breaking out to new 52-week highs this year with little fanfare. 

Where can you find these stocks? 

Tracey can tell you where they aren’t: they aren’t energy stocks. Energy was the best-performing sector in the S&P 500 for the last 2 years but it’s been weak so far in 2023. 

3 Top Value Stocks Breaking Out in 2023

• Penske Automotive Group, Inc. (PAG - Free Report)

Penske Automotive Group is an auto and truck retailer which also owns 25% of Penske Logistics. While 2022 appears to be peak earnings, with Penske making $18.55, the analysts still expect a bullish 2023 with the Zacks Consensus currently calling for $15.18. That’s 18.2% below 2022’s record, but 6 estimates have been raised for 2023 in the last month.  

Penske shares are cheap with a forward P/E of 9.5. It also pays a dividend, currently yielding 1.7%. 

Should you dive into shares of Penske in 2023? 

• United Rentals, Inc. (URI - Free Report)  

United Rentals is the largest equipment rental company in the United States. Earnings are expected to jump 28.3% in 2023 to $41.69 from $32.50 last year. 

Shares of United Rentals have soared 54% in the last year and are up 28% year-to-date. It’s still cheap, with a forward P/E of 11.4. United Rentals also recently started paying a dividend for the first time. It is currently yielding 0.3%. 

With shares hitting new 5-year highs, should United Rentals still be on your short list? 

• PACCAR Inc. (PCAR - Free Report)

PACCAR manufactures premium light, medium and heavy-duty trucks under the Kenworth, Peterbilt and DAF brands. Earnings are expected to rise 6.3% in 2023 to $6.11 from $5.75 last year. 

Shares of PACCAR are up 30% in the last year and are near 5-year highs. PACCAR pays a dividend currently yielding 1.3%. 

Should PACCAR be on your watch list?

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