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Has Tesla (TSLA) Outpaced 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 110 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #14 within the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track 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 30.02% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, TSLA has gained about 12.14% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of -1.87%. This means that Tesla is performing better than its sector in terms of year-to-date returns.
To break things down more, TSLA belongs to the Automotive - Domestic industry, a group that includes 18 individual companies and currently sits at #113 in the Zacks Industry Rank. On average, this group has gained an average of 0.90% so far this year, meaning that TSLA is performing better 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.
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Has Tesla (TSLA) Outpaced 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 110 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #14 within the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track 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 30.02% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, TSLA has gained about 12.14% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of -1.87%. This means that Tesla is performing better than its sector in terms of year-to-date returns.
To break things down more, TSLA belongs to the Automotive - Domestic industry, a group that includes 18 individual companies and currently sits at #113 in the Zacks Industry Rank. On average, this group has gained an average of 0.90% so far this year, meaning that TSLA is performing better 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.