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Is NIO (NIO) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?

Zacks Equity Research
·2 min read

The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. NIO (NIO) 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 NIO and the rest of the Auto-Tires-Trucks group's stocks.

NIO is a member of the Auto-Tires-Trucks sector. This group includes 95 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. NIO is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for NIO's full-year earnings has moved 41.60% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, NIO has moved about 433.33% on a year-to-date basis. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 38.65% on average. This means that NIO is performing better than its sector in terms of year-to-date returns.

Breaking things down more, NIO is a member of the Automotive - Foreign industry, which includes 23 individual companies and currently sits at #117 in the Zacks Industry Rank. On average, stocks in this group have lost 7.11% this year, meaning that NIO is performing better in terms of year-to-date returns.

Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to NIO as it looks to continue its solid performance.


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Zacks Investment Research