The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Paccar (PCAR) one of those stocks right now? 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.
Paccar is one of 111 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #8 within 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. Paccar is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PCAR's full-year earnings has moved 7.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that PCAR has returned about 6.7% since the start of the calendar year. In comparison, Auto-Tires-Trucks companies have returned an average of -13.4%. This means that Paccar is outperforming the sector as a whole this year.
Another stock in the Auto-Tires-Trucks sector, Solid Power, Inc. (SLDP), has outperformed the sector so far this year. The stock's year-to-date return is 6.2%.
The consensus estimate for Solid Power, Inc.'s current year EPS has increased 26% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Paccar belongs to the Automotive - Domestic industry, a group that includes 20 individual stocks and currently sits at #108 in the Zacks Industry Rank. Stocks in this group have lost about 22.8% so far this year, so PCAR is performing better this group in terms of year-to-date returns.
On the other hand, Solid Power, Inc. belongs to the Automotive - Original Equipment industry. This 55-stock industry is currently ranked #152. The industry has moved -5.7% year to date.
Investors interested in the Auto-Tires-Trucks sector may want to keep a close eye on Paccar and Solid Power, Inc. as they attempt to continue their solid performance.
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