The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Westport Innovations (WPRT) one of those stocks right now? 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.
Westport Innovations is one of 103 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. 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 0.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that WPRT has returned about 21% since the start of the calendar year. In comparison, Auto-Tires-Trucks companies have returned an average of 0.1%. This means that Westport Innovations is outperforming the sector as a whole this year.
Another Auto-Tires-Trucks stock, which has outperformed the sector so far this year, is Xos, Inc. (XOS). The stock has returned 25.4% year-to-date.
Over the past three months, Xos, Inc.'s consensus EPS estimate for the current year has increased 21.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Westport Innovations belongs to the Automotive - Original Equipment industry, which includes 54 individual stocks and currently sits at #143 in the Zacks Industry Rank. This group has gained an average of 11.2% so far this year, so WPRT is performing better in this area.
Xos, Inc., however, belongs to the Automotive - Domestic industry. Currently, this 16-stock industry is ranked #87. The industry has moved -3.7% so far this year.
Westport Innovations and Xos, Inc. could continue their solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to these stocks.
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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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