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 BRP Inc. (DOOO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
BRP Inc. is one of 96 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. BRP Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for DOOO's full-year earnings has moved 25.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, DOOO has gained about 19.5% so far this year. At the same time, Auto-Tires-Trucks stocks have gained an average of 8.5%. As we can see, BRP Inc. 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 Phinia (PHIN). The stock has returned 20.2% year-to-date.
For Phinia, the consensus EPS estimate for the current year has increased 12% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, BRP Inc. belongs to the Automotive - Original Equipment industry, a group that includes 50 individual companies and currently sits at #70 in the Zacks Industry Rank. On average, stocks in this group have gained 13% this year, meaning that DOOO is performing better in terms of year-to-date returns. Phinia is also part of the same industry.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to BRP Inc. and Phinia as they could maintain their solid performance.
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BRP Inc. (DOOO): Free Stock Analysis Report PHINIA Inc. (PHIN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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