Is Stellantis (STLA) Outperforming Other Auto-Tires-Trucks Stocks This Year?
Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has Stellantis N.V. STLA 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.
Stellantis N.V. is a member of our Auto-Tires-Trucks group, which includes 117 different companies and currently sits at #11 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 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. Stellantis is currently sporting a Zacks Rank #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for Stellantis' full-year earnings has moved 4.07% higher. This indicates that the stock's earnings outlook is improving.
According to our latest data, Stellantis has moved about 8.73% on a year-to-date basis. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 0.39% on average. This shows that Stellantis has outperformed its peers so far this year.
Another auto stock, which has outperformed the sector so far this year, is CarGurus, Inc. CARG. The stock has returned 8.41% year to date.
For CarGurus, the consensus EPS estimate for the current year has increased 26% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Stellantis belongs to the Automotive - Foreign industry, a group that includes 24 individual companies and currently sits at #212 in the Zacks Industry Rank. This group has gained an average of 3.26% so far this year, so STLA is performing better in this area.
On the other hand, CarGurus belongs to the Automotive - Replacement Parts industry. This 8-stock industry is currently ranked #28. The industry has gained 22.24% year to date.
Going forward, investors interested in auto stocks should continue to pay close attention to Stellantis and CarGurus as they could maintain their solid performance.
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