Is Byd Co. (BYDDY) 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. Has Byd Co., Ltd. (BYDDY) 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.
Byd Co., Ltd. is a member of the Auto-Tires-Trucks sector. This group includes 122 individual stocks and currently holds a Zacks Sector Rank of #13. 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. Byd Co., Ltd. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BYDDY's full-year earnings has moved 24.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BYDDY has returned about 26.3% since the start of the calendar year. At the same time, Auto-Tires-Trucks stocks have lost an average of 47.8%. This shows that Byd Co., Ltd. is outperforming its peers so far this year.
One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is Michelin (MGDDY). The stock is up 13.2% year-to-date.
Over the past three months, Michelin's consensus EPS estimate for the current year has increased 12.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Byd Co., Ltd. belongs to the Automotive - Foreign industry, a group that includes 27 individual companies and currently sits at #93 in the Zacks Industry Rank. On average, stocks in this group have lost 37.1% this year, meaning that BYDDY is performing better in terms of year-to-date returns.
On the other hand, Michelin belongs to the Rubber - Tires industry. This 3-stock industry is currently ranked #97. The industry has moved -46% year to date.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Byd Co., Ltd. and Michelin as they could maintain their solid performance.
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