Are Auto-Tires-Trucks Stocks Lagging NIO (NIO) This Year?
For those looking to find strong Auto-Tires-Trucks stocks, it is prudent to search for companies in the group that are outperforming their peers. Has NIO Inc. (NIO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
NIO Inc. is a member of the Auto-Tires-Trucks sector. This group includes 101 individual stocks and currently holds a Zacks Sector Rank of #9. 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 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. NIO Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NIO's full-year earnings has moved 31.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NIO has returned about 25.1% since the start of the calendar year. At the same time, Auto-Tires-Trucks stocks have lost an average of 15.3%. This means that NIO Inc. is performing better than its sector in terms of year-to-date returns.
One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is Toyota Motor Corporation (TM). The stock is up 0.4% year-to-date.
The consensus estimate for Toyota Motor Corporation's current year EPS has increased 5.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, NIO Inc. belongs to the Automotive - Foreign industry, a group that includes 23 individual companies and currently sits at #144 in the Zacks Industry Rank. On average, this group has lost an average of 3.9% so far this year, meaning that NIO is performing better in terms of year-to-date returns. Toyota Motor Corporation is also part of the same industry.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track NIO Inc. and Toyota Motor Corporation. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
