Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has Garrett Motion (GTX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Garrett Motion is a member of the Auto-Tires-Trucks sector. This group includes 96 individual stocks and currently holds a Zacks Sector Rank of #16. 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 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. Garrett Motion is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GTX's full-year earnings has moved 4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that GTX has returned about 21.7% since the start of the calendar year. Meanwhile, the Auto-Tires-Trucks sector has returned an average of -14% on a year-to-date basis. As we can see, Garrett Motion is performing better than its sector in the calendar year.
Strattec Security (STRT) is another Auto-Tires-Trucks stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 63.2%.
Over the past three months, Strattec Security's consensus EPS estimate for the current year has increased 23.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Garrett Motion is a member of the Automotive - Original Equipment industry, which includes 50 individual companies and currently sits at #90 in the Zacks Industry Rank. Stocks in this group have gained about 8.4% so far this year, so GTX is performing better this group in terms of year-to-date returns. Strattec Security is also part of the same industry.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track Garrett Motion and Strattec Security. These stocks will be looking to continue their solid performance.
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Garrett Motion Inc. (GTX): Free Stock Analysis Report Strattec Security Corporation (STRT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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