Are Auto-Tires-Trucks Stocks Lagging Autoliv (ALV) 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 Autoliv, Inc. (ALV) been one of those stocks this year? 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.
Autoliv, Inc. is a member of our Auto-Tires-Trucks group, which includes 99 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 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. Autoliv, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALV's full-year earnings has moved 3.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ALV has moved about 25.8% on a year-to-date basis. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 7.7% on average. This means that Autoliv, Inc. is outperforming the sector as a whole this year.
Dorman Products (DORM) is another Auto-Tires-Trucks stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 10.4%.
Over the past three months, Dorman Products' consensus EPS estimate for the current year has increased 11.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Autoliv, Inc. belongs to the Automotive - Original Equipment industry, which includes 51 individual stocks and currently sits at #68 in the Zacks Industry Rank. Stocks in this group have gained about 2.1% so far this year, so ALV is performing better this group in terms of year-to-date returns.
On the other hand, Dorman Products belongs to the Automotive - Replacement Parts industry. This 7-stock industry is currently ranked #29. The industry has moved -11.5% year to date.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Autoliv, Inc. and Dorman Products as they could maintain their solid performance.
#1 Semiconductor Stock to Buy (Not NVDA)
The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.
One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.
See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Autoliv, Inc. (ALV): Free Stock Analysis Report
Dorman Products, Inc. (DORM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
