Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has Westport Innovations (WPRT) been one of those stocks this year? 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.
Westport Innovations is one of 103 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #11 within the Zacks Sector Rank. 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 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. Westport Innovations is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for WPRT's full-year earnings has moved 4.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, WPRT has gained about 38.9% so far this year. At the same time, Auto-Tires-Trucks stocks have gained an average of 13%. This shows that Westport Innovations is outperforming its peers so far this year.
One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is Xos, Inc. (XOS). The stock is up 23.8% year-to-date.
For Xos, Inc., the consensus EPS estimate for the current year has increased 21.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Westport Innovations belongs to the Automotive - Original Equipment industry, which includes 54 individual stocks and currently sits at #162 in the Zacks Industry Rank. On average, this group has lost an average of 2.4% so far this year, meaning that WPRT is performing better in terms of year-to-date returns.
Xos, Inc., however, belongs to the Automotive - Domestic industry. Currently, this 16-stock industry is ranked #52. The industry has moved +15.6% so far this year.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track Westport Innovations and Xos, Inc.. These stocks will be looking to continue their solid performance.
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Westport Fuel Systems Inc. (WPRT): Free Stock Analysis Report Xos, Inc. (XOS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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