The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Tesla (TSLA - Free Report) been one of those stocks this year? 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 one of 90 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #14 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 75.11% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, TSLA has gained about 14.30% so far this year. Meanwhile, stocks in the Auto-Tires-Trucks group have lost about 0.24% on average. This means that Tesla is outperforming the sector as a whole this year.
Looking more specifically, TSLA belongs to the Automotive - Domestic industry, a group that includes 10 individual stocks and currently sits at #111 in the Zacks Industry Rank. Stocks in this group have gained about 2.91% so far this year, so TSLA is performing better this group 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.