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? Let's take a closer look at the stock's year-to-date performance to find out.
Tesla is a member of the Auto-Tires-Trucks sector. This group includes 82 individual stocks and currently holds a Zacks Sector Rank of #15. 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 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. 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 52.72% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that TSLA has returned about 8.34% since the start of the calendar year. At the same time, Auto-Tires-Trucks stocks have lost an average of 17.98%. This means that Tesla is outperforming the sector as a whole this year.
Looking more specifically, TSLA belongs to the Automotive - Domestic industry, which includes 8 individual stocks and currently sits at #32 in the Zacks Industry Rank. On average, stocks in this group have lost 7.44% this year, meaning that TSLA is performing better in terms of year-to-date returns.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to TSLA as it looks to continue its solid performance.