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. Is Aeva Technologies, Inc. (AEVA) 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.
Aeva Technologies, Inc. is a member of our Auto-Tires-Trucks group, which includes 103 different companies and currently sits at #14 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 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. Aeva Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AEVA's full-year earnings has moved 20.7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AEVA has returned 54.1% so far this year. Meanwhile, the Auto-Tires-Trucks sector has returned an average of -18.4% on a year-to-date basis. This shows that Aeva Technologies, Inc. is outperforming its peers so far this year.
Another stock in the Auto-Tires-Trucks sector, Michelin (MGDDY), has outperformed the sector so far this year. The stock's year-to-date return is 9.6%.
In Michelin's case, the consensus EPS estimate for the current year increased 9.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Aeva Technologies, Inc. belongs to the Automotive - Original Equipment industry, a group that includes 53 individual stocks and currently sits at #159 in the Zacks Industry Rank. Stocks in this group have lost about 5.9% so far this year, so AEVA is performing better this group in terms of year-to-date returns.
Michelin, however, belongs to the Rubber - Tires industry. Currently, this 2-stock industry is ranked #15. The industry has moved +22.2% so far this year.
Aeva Technologies, 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.
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Aeva Technologies, Inc. (AEVA): Free Stock Analysis Report Michelin (MGDDY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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