For those looking to find strong Auto-Tires-Trucks stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Standard Motor Products (SMP) been one of those stocks this year? By taking a look at the stock’s year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.
Standard Motor Products is a member of our Auto-Tires-Trucks group, which includes 117 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Standard Motor Products is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SMP’s full-year earnings has moved 7.8% higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the latest available data, SMP has gained about 27.8% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of 7.7%. This means that Standard Motor Products is performing better than its sector in terms of year-to-date returns.
Another Auto-Tires-Trucks stock, which has outperformed the sector so far this year, is Tesla (TSLA). The stock has returned 43.8% year-to-date.
Over the past three months, Tesla’s consensus EPS estimate for the current year has increased 24%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Standard Motor Products is a member of the Automotive – Replacement Parts industry, which includes 8 individual companies and currently sits at #52 in the Zacks Industry Rank. Stocks in this group have gained about 21.7% so far this year, so SMP is performing better this group in terms of year-to-date returns.
Tesla, however, belongs to the Automotive – Domestic industry. Currently, this 21-stock industry is ranked #163. The industry has moved +25.2% so far this year.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Standard Motor Products and Tesla as they could maintain their solid performance.
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