The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Tesla (TSLA) 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.
Tesla is one of 90 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #12 in the Zacks Sector Rank. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. TSLA is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for TSLA's full-year earnings has moved 21.18% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that TSLA has returned about 35.51% since the start of the calendar year. In comparison, Auto-Tires-Trucks companies have returned an average of 0.89%. This means that Tesla is performing better than its sector in terms of year-to-date returns.
Looking more specifically, TSLA belongs to the Automotive - Domestic industry, a group that includes 10 individual stocks and currently sits at #176 in the Zacks Industry Rank. Stocks in this group have gained about 9.22% so far this year, so TSLA is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to TSLA as it looks to continue its solid performance.