The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Goodyear (GT) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Auto-Tires-Trucks sector should help us answer this question.
Goodyear is a member of our Auto-Tires-Trucks group, which includes 126 different companies and currently sits at #11 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Goodyear is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GT's full-year earnings has moved 2.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, GT has returned 2.6% so far this year. At the same time, Auto-Tires-Trucks stocks have lost an average of 9.4%. As we can see, Goodyear is performing better than its sector in the calendar year.
Stellantis (STLA) 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 4.7%.
The consensus estimate for Stellantis' current year EPS has increased 1.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Goodyear belongs to the Rubber - Tires industry, a group that includes 3 individual companies and currently sits at #21 in the Zacks Industry Rank. This group has gained an average of 2.6% so far this year, so GT is performing on par in this area.
In contrast, Stellantis falls under the Automotive - Foreign industry. Currently, this industry has 26 stocks and is ranked #203. Since the beginning of the year, the industry has moved +0.8%.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Goodyear and Stellantis as they could maintain their solid performance.
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The Goodyear Tire & Rubber Company (GT) : Free Stock Analysis Report
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