Is PACCAR (PCAR) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?
Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has Paccar (PCAR) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Paccar is a member of our Auto-Tires-Trucks group, which includes 113 different companies and currently sits at #7 in the Zacks Sector Rank. 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 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. Paccar is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PCAR's full-year earnings has moved 5.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, PCAR has moved about 27.9% on a year-to-date basis. In comparison, Auto-Tires-Trucks companies have returned an average of 26.7%. This means that Paccar is performing better than its sector in terms of year-to-date returns.
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 38.1%.
Over the past three months, Stellantis' consensus EPS estimate for the current year has increased 9.8%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Paccar is a member of the Automotive - Domestic industry, which includes 20 individual companies and currently sits at #156 in the Zacks Industry Rank. On average, this group has gained an average of 38.2% so far this year, meaning that PCAR is slightly underperforming its industry in terms of year-to-date returns.
Stellantis, however, belongs to the Automotive - Foreign industry. Currently, this 26-stock industry is ranked #33. The industry has moved +28.9% so far this year.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Paccar and Stellantis as they could maintain their solid performance.
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PACCAR Inc. (PCAR) : Free Stock Analysis Report
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