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Is Tesla (TSLA) Outperforming Other Auto-Tires-Trucks Stocks This Year?
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The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Tesla (TSLA - 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? One simple way to answer this question is to take a look at the year-to-date performance of TSLA and the rest of the Auto-Tires-Trucks group's stocks.
Tesla is one of 86 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #15 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 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 #1 (Strong Buy).
The Zacks Consensus Estimate for TSLA's full-year earnings has moved 51.63% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, TSLA has gained about 1.29% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of -22.25%. As we can see, Tesla is performing better than its sector in the calendar year.
Looking more specifically, TSLA belongs to the Automotive - Domestic industry, which includes 8 individual stocks and currently sits at #20 in the Zacks Industry Rank. This group has lost an average of 13.51% so far this year, so TSLA is performing better in this area.
Investors in the Auto-Tires-Trucks sector will want to keep a close eye on TSLA as it attempts to continue its solid performance.
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Is Tesla (TSLA) Outperforming Other Auto-Tires-Trucks Stocks This Year?
The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Tesla (TSLA - 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? One simple way to answer this question is to take a look at the year-to-date performance of TSLA and the rest of the Auto-Tires-Trucks group's stocks.
Tesla is one of 86 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #15 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 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 #1 (Strong Buy).
The Zacks Consensus Estimate for TSLA's full-year earnings has moved 51.63% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, TSLA has gained about 1.29% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of -22.25%. As we can see, Tesla is performing better than its sector in the calendar year.
Looking more specifically, TSLA belongs to the Automotive - Domestic industry, which includes 8 individual stocks and currently sits at #20 in the Zacks Industry Rank. This group has lost an average of 13.51% so far this year, so TSLA is performing better in this area.
Investors in the Auto-Tires-Trucks sector will want to keep a close eye on TSLA as it attempts to continue its solid performance.