Is Dorman Products (DORM) Outperforming Other Auto-Tires-Trucks Stocks 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 Dorman Products (DORM) 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.
Dorman Products is one of 111 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Dorman Products is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DORM's full-year earnings has moved 6.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, DORM has returned 13% so far this year. Meanwhile, stocks in the Auto-Tires-Trucks group have lost about 2.9% on average. This means that Dorman Products is performing better than its sector in terms of year-to-date returns.
One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is Michelin (MGDDY). The stock is up 2.8% year-to-date.
For Michelin, the consensus EPS estimate for the current year has increased 5.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Dorman Products is a member of the Automotive - Replacement Parts industry, which includes 7 individual companies and currently sits at #215 in the Zacks Industry Rank. On average, this group has gained an average of 6.8% so far this year, meaning that DORM 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 #99. The industry has moved -17% year to date.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track Dorman Products and Michelin. These stocks will be looking to continue their solid performance.
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