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Is Tesla (TSLA) Outperforming Other Auto-Tires-Trucks Stocks This Year?

Zacks Equity Research
·2 min read

Investors focused on the Auto-Tires-Trucks space have likely heard of Tesla (TSLA), but is the stock performing well in comparison to the rest of its sector peers? 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.

Tesla is one of 99 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. TSLA is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for TSLA's full-year earnings has moved 73.09% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that TSLA has returned about 743.44% since the start of the calendar year. Meanwhile, stocks in the Auto-Tires-Trucks group have about 0% on average. This means that Tesla is performing better than its sector in terms of year-to-date returns.

Breaking things down more, TSLA is a member of the Automotive - Domestic industry, which includes 13 individual companies and currently sits at #19 in the Zacks Industry Rank.

TSLA will likely be looking to continue its solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to the company.


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