Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Is BRP Inc. (DOO) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.
BRP Inc. is one of 103 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit 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 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. BRP Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DOO's full-year earnings has moved 9.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, DOO has gained about 12.3% so far this year. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 11% on average. This means that BRP Inc. is performing better than its sector in terms of year-to-date returns.
Another Auto-Tires-Trucks stock, which has outperformed the sector so far this year, is Michelin (MGDDY). The stock has returned 11.2% year-to-date.
In Michelin's case, the consensus EPS estimate for the current year increased 2.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, BRP Inc. is a member of the Automotive - Original Equipment industry, which includes 54 individual companies and currently sits at #93 in the Zacks Industry Rank. This group has lost an average of 0.6% so far this year, so DOO is performing better in this area.
On the other hand, Michelin belongs to the Rubber - Tires industry. This 2-stock industry is currently ranked #4. The industry has moved +4.1% year to date.
BRP Inc. and Michelin could continue their solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to these stocks.
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
BRP Inc. (DOO): Free Stock Analysis Report Michelin (MGDDY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
