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Are Auto-Tires-Trucks Stocks Lagging Hyliion (HYLN) 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. Hyliion Holdings Corp. (HYLN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.

Hyliion Holdings Corp. is a member of our Auto-Tires-Trucks group, which includes 107 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. Hyliion Holdings Corp. is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for HYLN's full-year earnings has moved 12.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, HYLN has moved about 112.6% on a year-to-date basis. Meanwhile, stocks in the Auto-Tires-Trucks group have lost about 11.5% on average. As we can see, Hyliion Holdings Corp. is performing better than its sector in the calendar year.

One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is Ferrari (RACE). The stock is up 43.9% year-to-date.

The consensus estimate for Ferrari's current year EPS has increased 6.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Hyliion Holdings Corp. belongs to the Automotive - Original Equipment industry, a group that includes 53 individual stocks and currently sits at #164 in the Zacks Industry Rank. On average, stocks in this group have lost 25.2% this year, meaning that HYLN is performing better in terms of year-to-date returns. Ferrari is also part of the same industry.

Investors with an interest in Auto-Tires-Trucks stocks should continue to track Hyliion Holdings Corp. and Ferrari. These stocks will be looking to continue their solid performance.

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Hyliion Holdings Corp. (HYLN) : Free Stock Analysis Report

Ferrari N.V. (RACE) : Free Stock Analysis Report

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Zacks Investment Research