Are Auto-Tires-Trucks Stocks Lagging Modine Manufacturing (MOD) 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. Has Modine (MOD) been one of those stocks this year? 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.
Modine is a member of our Auto-Tires-Trucks group, which includes 113 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Modine is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MOD's full-year earnings has moved 22.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, MOD has gained about 103.4% so far this year. Meanwhile, the Auto-Tires-Trucks sector has returned an average of 23.5% on a year-to-date basis. As we can see, Modine is performing better than its sector in the calendar year.
Toyota Motor Corporation (TM) 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 27.3%.
Over the past three months, Toyota Motor Corporation's consensus EPS estimate for the current year has increased 1.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Modine belongs to the Automotive - Original Equipment industry, a group that includes 56 individual stocks and currently sits at #162 in the Zacks Industry Rank. Stocks in this group have lost about 1.4% so far this year, so MOD is performing better this group in terms of year-to-date returns.
In contrast, Toyota Motor Corporation falls under the Automotive - Foreign industry. Currently, this industry has 26 stocks and is ranked #45. Since the beginning of the year, the industry has moved +22%.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track Modine and Toyota Motor Corporation. These stocks will be looking to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Modine Manufacturing Company (MOD) : Free Stock Analysis Report
Toyota Motor Corporation (TM) : Free Stock Analysis Report
