Yahoo Finance Is China Automotive Systems (CAAS) Outperforming Other Auto-Tires-Trucks Stocks This Year?
Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. China Automotive Systems (CAAS) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Auto-Tires-Trucks sector should help us answer this question.
China Automotive Systems is a member of the Auto-Tires-Trucks sector. This group includes 123 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 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. China Automotive Systems is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CAAS' full-year earnings has moved 60% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CAAS has moved about 11.9% on a year-to-date basis. Meanwhile, the Auto-Tires-Trucks sector has returned an average of -52.1% on a year-to-date basis. This means that China Automotive Systems is performing better than its sector in terms of year-to-date returns.
One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is Stellantis (STLA). The stock is up 6.6% year-to-date.
Over the past three months, Stellantis' consensus EPS estimate for the current year has increased 22%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, China Automotive Systems belongs to the Automotive - Original Equipment industry, which includes 62 individual stocks and currently sits at #88 in the Zacks Industry Rank. Stocks in this group have lost about 31.2% so far this year, so CAAS is performing better this group in terms of year-to-date returns.
Stellantis, however, belongs to the Automotive - Foreign industry. Currently, this 28-stock industry is ranked #67. The industry has moved -39.4% so far this year.
China Automotive Systems and Stellantis could continue their solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to these stocks.
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China Automotive Systems, Inc. (CAAS) : Free Stock Analysis Report
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