The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Hesai Group Sponsored ADR (HSAI) 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.
Hesai Group Sponsored ADR is a member of our Auto-Tires-Trucks group, which includes 96 different companies and currently sits at #9 in the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Hesai Group Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HSAI's full-year earnings has moved 4.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, HSAI has moved about 108.3% on a year-to-date basis. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 6.1% on average. As we can see, Hesai Group Sponsored ADR is performing better than its sector in the calendar year.
OPENLANE (KAR) 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 43.8%.
The consensus estimate for OPENLANE's current year EPS has increased 10.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Hesai Group Sponsored ADR belongs to the Automotive - Original Equipment industry, which includes 50 individual stocks and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have gained about 11.8% so far this year, so HSAI is performing better this group in terms of year-to-date returns. OPENLANE is also part of the same industry.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track Hesai Group Sponsored ADR and OPENLANE. These stocks will be looking to continue their solid performance.
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
Hesai Group Sponsored ADR (HSAI): Free Stock Analysis Report OPENLANE, Inc. (KAR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
