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Is Tesla (TSLA) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?
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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. Is Tesla (TSLA - Free Report) 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 a member of the Auto-Tires-Trucks sector. This group includes 99 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. TSLA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for TSLA's full-year earnings has moved 12.82% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, TSLA has gained about 19.98% so far this year. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 14.94% on average. As we can see, Tesla is performing better than its sector in the calendar year.
To break things down more, TSLA belongs to the Automotive - Domestic industry, a group that includes 13 individual companies and currently sits at #24 in the Zacks Industry Rank. On average, stocks in this group have gained 24.14% this year, meaning that TSLA is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track TSLA. The stock will be looking to continue its solid performance.
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Is Tesla (TSLA) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?
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. Is Tesla (TSLA - Free Report) 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 a member of the Auto-Tires-Trucks sector. This group includes 99 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. TSLA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for TSLA's full-year earnings has moved 12.82% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, TSLA has gained about 19.98% so far this year. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 14.94% on average. As we can see, Tesla is performing better than its sector in the calendar year.
To break things down more, TSLA belongs to the Automotive - Domestic industry, a group that includes 13 individual companies and currently sits at #24 in the Zacks Industry Rank. On average, stocks in this group have gained 24.14% this year, meaning that TSLA is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track TSLA. The stock will be looking to continue its solid performance.