The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is China Automotive Systems (CAAS - Free Report) one of those stocks right now? 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.
China Automotive Systems is a member of our Auto-Tires-Trucks group, which includes 90 different companies and currently sits at #9 in 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. CAAS is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CAAS's full-year earnings has moved 3.45% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CAAS has returned about 1.27% since the start of the calendar year. In comparison, Auto-Tires-Trucks companies have returned an average of 0.97%. As we can see, China Automotive Systems is performing better than its sector in the calendar year.
Breaking things down more, CAAS is a member of the Automotive - Original Equipment industry, which includes 44 individual companies and currently sits at #170 in the Zacks Industry Rank. On average, stocks in this group have lost 0.42% this year, meaning that CAAS 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 CAAS as it looks to continue its solid performance.