The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Tesla (TSLA) one of those stocks right now? 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.
Tesla is one of 117 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #16 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. TSLA is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for TSLA’s full-year earnings has moved 34.37% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, TSLA has moved about 14.94% on a year-to-date basis. At the same time, Auto-Tires-Trucks stocks have lost an average of 4.95%. As we can see, Tesla is performing better than its sector in the calendar year.
Looking more specifically, TSLA belongs to the Automotive – Domestic industry, which includes 21 individual stocks and currently sits at #178 in the Zacks Industry Rank. This group has gained an average of 1.30% so far this year, so TSLA is performing better in this area.
TSLA will likely be looking to continue its solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to the company.
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