Advertisement
Canada markets open in 5 hours 17 minutes

  • S&P/TSX

    22,375.83
    +116.63 (+0.52%)
     

  • S&P 500

    5,214.08
    +26.41 (+0.51%)
     

  • DOW

    39,387.76
    +331.36 (+0.85%)
     

  • CAD/USD

    0.7309
    -0.0002 (-0.03%)
     

  • CRUDE OIL

    79.82
    +0.56 (+0.71%)
     

  • Bitcoin CAD

    86,104.25
    +2,278.23 (+2.72%)
     

  • CMC Crypto 200

    1,308.01
    -50.00 (-3.68%)
     

  • GOLD FUTURES

    2,374.30
    +34.00 (+1.45%)
     

  • RUSSELL 2000

    2,073.63
    +18.49 (+0.90%)
     

  • 10-Yr Bond

    4.4490
    -0.0430 (-0.96%)
     

  • NASDAQ futures

    18,241.50
    +27.00 (+0.15%)
     

  • VOLATILITY

    12.78
    +0.09 (+0.71%)
     

  • FTSE

    8,428.49
    +47.14 (+0.56%)
     

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

  • CAD/EUR

    0.6776
    -0.0002 (-0.03%)
     

Is Goodyear (GT) Outperforming Other Auto-Tires-Trucks Stocks This Year?

Zacks Equity Research
·2 min read

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 Goodyear (GT) 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.

Goodyear is a member of the Auto-Tires-Trucks sector. This group includes 126 individual stocks and currently holds a Zacks Sector Rank of #13. 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. Goodyear is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for GT's full-year earnings has moved 35.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

ADVERTISEMENT

Based on the most recent data, GT has returned 4.8% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of 1.4%. As we can see, Goodyear is performing better than its sector in the calendar year.

Another Auto-Tires-Trucks stock, which has outperformed the sector so far this year, is Standard Motor Products (SMP). The stock has returned 1.9% year-to-date.

For Standard Motor Products, the consensus EPS estimate for the current year has increased 7.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Goodyear belongs to the Rubber - Tires industry, a group that includes 3 individual stocks and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 4.8% so far this year, so GT is performing on par in this area.

In contrast, Standard Motor Products falls under the Automotive - Replacement Parts industry. Currently, this industry has 8 stocks and is ranked #12. Since the beginning of the year, the industry has moved -0.8%.

Goodyear and Standard Motor Products could continue their solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to these stocks.


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
 
The Goodyear Tire & Rubber Company (GT) : Free Stock Analysis Report
 
Standard Motor Products, Inc. (SMP) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.