Has Toyota Motor (TM) Outpaced Other Auto-Tires-Trucks Stocks This Year?
Investors focused on the Auto-Tires-Trucks space have likely heard of Toyota Motor (TM), but is the stock performing well in comparison to the rest of its sector peers? 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.
Toyota Motor is a member of our Auto-Tires-Trucks group, which includes 105 different companies and currently sits at #8 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. TM is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for TM's full-year earnings has moved 10.89% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, TM has returned 1.94% so far this year. At the same time, Auto-Tires-Trucks stocks have gained an average of 1.86%. As we can see, Toyota Motor is performing better than its sector in the calendar year.
To break things down more, TM belongs to the Automotive - Foreign industry, a group that includes 23 individual companies and currently sits at #61 in the Zacks Industry Rank. On average, this group has lost an average of 3.13% so far this year, meaning that TM is performing better in terms of year-to-date returns.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track TM. The stock will be looking to continue its solid performance.
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