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Is China Automotive Systems (CAAS) Outperforming Other Auto-Tires-Trucks Stocks This Year?
Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has China Automotive Systems (CAAS - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
China Automotive Systems is one of 129 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #12 within 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. China Automotive Systems is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CAAS' full-year earnings has moved 700% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CAAS has moved about 41% on a year-to-date basis. Meanwhile, stocks in the Auto-Tires-Trucks group have lost about 30.7% on average. As we can see, China Automotive Systems is performing better than its sector in the calendar year.
Another stock in the Auto-Tires-Trucks sector, Modine (MOD - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 36.8%.
The consensus estimate for Modine's current year EPS has increased 2.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, China Automotive Systems belongs to the Automotive - Original Equipment industry, a group that includes 63 individual stocks and currently sits at #167 in the Zacks Industry Rank. On average, this group has lost an average of 39.3% so far this year, meaning that CAAS is performing better in terms of year-to-date returns. Modine is also part of the same industry.
Investors interested in the Auto-Tires-Trucks sector may want to keep a close eye on China Automotive Systems and Modine as they attempt to continue their solid performance.