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Is Tesla (TSLA) Outperforming Other Auto-Tires-Trucks Stocks This Year?
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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? By taking a look at the stock's year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.
Tesla is one of 105 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #10 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 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 #3 (Hold).
The Zacks Consensus Estimate for TSLA's full-year earnings has moved -7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, TSLA has returned -4.06% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of 0.79%. 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 14 individual stocks and currently sits at #91 in the Zacks Industry Rank. This group has gained an average of 5.35% so far this year, so TSLA is slightly underperforming its industry in this area.
TSLA will likely be looking to continue its solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to the company.
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Is Tesla (TSLA) Outperforming Other Auto-Tires-Trucks Stocks This Year?
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? By taking a look at the stock's year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.
Tesla is one of 105 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #10 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 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 #3 (Hold).
The Zacks Consensus Estimate for TSLA's full-year earnings has moved -7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, TSLA has returned -4.06% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of 0.79%. 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 14 individual stocks and currently sits at #91 in the Zacks Industry Rank. This group has gained an average of 5.35% so far this year, so TSLA is slightly underperforming its industry in this area.
TSLA will likely be looking to continue its solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to the company.