Yahoo Finance Are Auto-Tires-Trucks Stocks Lagging General Motors (GM) 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. Is General Motors Company (GM) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
General Motors Company is one of 110 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #9 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 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. General Motors Company is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GM's full-year earnings has moved 17.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GM has moved about 22.5% on a year-to-date basis. At the same time, Auto-Tires-Trucks stocks have lost an average of 4.6%. This shows that General Motors Company is outperforming its peers so far this year.
Cyngn Inc. (CYN) 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 8.9%.
In Cyngn Inc.'s case, the consensus EPS estimate for the current year increased 36.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, General Motors Company is a member of the Automotive - Domestic industry, which includes 20 individual companies and currently sits at #72 in the Zacks Industry Rank. Stocks in this group have lost about 20.7% so far this year, so GM is performing better this group in terms of year-to-date returns.
On the other hand, Cyngn Inc. belongs to the Automotive - Original Equipment industry. This 55-stock industry is currently ranked #146. The industry has moved +4% year to date.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track General Motors Company and Cyngn Inc. These stocks will be looking to continue their solid performance.
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