Investors focused on the Auto-Tires-Trucks space have likely heard of Tesla (TSLA - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Auto-Tires-Trucks sector should help us answer this question.
Tesla is a member of our Auto-Tires-Trucks group, which includes 77 different companies and currently sits at #13 in the Zacks Sector Rank. 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 #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for TSLA's full-year earnings has moved 27.79% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, TSLA has gained about 2.62% so far this year. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 1.13% 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 8 individual companies and currently sits at #38 in the Zacks Industry Rank. This group has gained an average of 1.38% 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 Auto-Tires-Trucks stocks should continue to pay close attention to the company.