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 Hesai Group Sponsored ADR (HSAI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Hesai Group Sponsored ADR is a member of our Auto-Tires-Trucks group, which includes 99 different companies and currently sits at #12 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).
The Zacks Consensus Estimate for HSAI's full-year earnings has moved 7.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, HSAI has returned 66.7% so far this year. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 7.1% on average. As we can see, Hesai Group Sponsored ADR is performing better than its sector in the calendar year.
Another stock in the Auto-Tires-Trucks sector, OPENLANE (KAR), has outperformed the sector so far this year. The stock's year-to-date return is 33.7%.
Over the past three months, OPENLANE's consensus EPS estimate for the current year has increased 16.9%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Hesai Group Sponsored ADR belongs to the Automotive - Original Equipment industry, a group that includes 51 individual stocks and currently sits at #82 in the Zacks Industry Rank. Stocks in this group have gained about 3.2% 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 interested in the Auto-Tires-Trucks sector may want to keep a close eye on Hesai Group Sponsored ADR and OPENLANE as they attempt to continue their solid performance.
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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).
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