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Has Tesla (TSLA) Outpaced Other Auto-Tires-Trucks Stocks This Year?

Zacks Equity Research

Investors focused on the Auto-Tires-Trucks space have likely heard of Tesla (TSLA), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of TSLA and the rest of the Auto-Tires-Trucks group's stocks.

Tesla is a member of the Auto-Tires-Trucks sector. This group includes 89 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. TSLA is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for TSLA's full-year earnings has moved 36.13% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the most recent data, TSLA has returned 2.02% so far this year. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 16.64% on average. As we can see, Tesla is performing better than its sector in the calendar year.

Looking more specifically, TSLA belongs to the Automotive - Domestic industry, a group that includes 10 individual stocks and currently sits at #97 in the Zacks Industry Rank. This group has gained an average of 16.29% so far this year, so TSLA is slightly underperforming its industry in this area.

Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to TSLA as it looks to continue its solid performance.


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Zacks Investment Research