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 BRP Inc. (DOOO) 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.
BRP Inc. is one of 99 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #10 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 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. BRP Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DOOO's full-year earnings has moved 26.3% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, DOOO has returned 29.3% so far this year. At the same time, Auto-Tires-Trucks stocks have gained an average of 13%. This shows that BRP Inc. is outperforming its peers so far this year.
Garrett Motion (GTX) 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 93%.
For Garrett Motion, the consensus EPS estimate for the current year has increased 4.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, BRP Inc. is a member of the Automotive - Original Equipment industry, which includes 51 individual companies and currently sits at #83 in the Zacks Industry Rank. On average, stocks in this group have gained 3.7% this year, meaning that DOOO is performing better in terms of year-to-date returns. Garrett Motion is also part of the same industry.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to BRP Inc. and Garrett Motion 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 >>BRP Inc. (DOOO) : Free Stock Analysis Report
Garrett Motion Inc. (GTX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
