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Is Hyliion (HYLN) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?
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For those looking to find strong Auto-Tires-Trucks stocks, it is prudent to search for companies in the group that are outperforming their peers. Hyliion Holdings Corp. (HYLN - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Hyliion Holdings Corp. is one of 107 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #13 within 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. Hyliion Holdings Corp. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for HYLN's full-year earnings has moved 12.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that HYLN has returned about 151.9% since the start of the calendar year. Meanwhile, stocks in the Auto-Tires-Trucks group have lost about 10.8% on average. As we can see, Hyliion Holdings Corp. is performing better than its sector in the calendar year.
Ferrari (RACE - Free Report) is another Auto-Tires-Trucks stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 36.8%.
Over the past three months, Ferrari's consensus EPS estimate for the current year has increased 6.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Hyliion Holdings Corp. belongs to the Automotive - Original Equipment industry, which includes 53 individual stocks and currently sits at #179 in the Zacks Industry Rank. On average, this group has lost an average of 24% so far this year, meaning that HYLN is performing better in terms of year-to-date returns. Ferrari is also part of the same industry.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track Hyliion Holdings Corp. and Ferrari. These stocks will be looking to continue their solid performance.
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Is Hyliion (HYLN) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?
For those looking to find strong Auto-Tires-Trucks stocks, it is prudent to search for companies in the group that are outperforming their peers. Hyliion Holdings Corp. (HYLN - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Hyliion Holdings Corp. is one of 107 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #13 within 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. Hyliion Holdings Corp. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for HYLN's full-year earnings has moved 12.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that HYLN has returned about 151.9% since the start of the calendar year. Meanwhile, stocks in the Auto-Tires-Trucks group have lost about 10.8% on average. As we can see, Hyliion Holdings Corp. is performing better than its sector in the calendar year.
Ferrari (RACE - Free Report) is another Auto-Tires-Trucks stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 36.8%.
Over the past three months, Ferrari's consensus EPS estimate for the current year has increased 6.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Hyliion Holdings Corp. belongs to the Automotive - Original Equipment industry, which includes 53 individual stocks and currently sits at #179 in the Zacks Industry Rank. On average, this group has lost an average of 24% so far this year, meaning that HYLN is performing better in terms of year-to-date returns. Ferrari is also part of the same industry.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track Hyliion Holdings Corp. and Ferrari. These stocks will be looking to continue their solid performance.