Is CarGurus (CARG) Outperforming Other Auto-Tires-Trucks Stocks This Year?

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 CarGurus (CARG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.CarGurus is one of 101 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #10 within 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. CarGurus is currently sporting a Zacks Rank of #1 (Strong Buy).The Zacks Consensus Estimate for CARG's full-year earnings has moved 4.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the most recent data, CARG has returned 48.7% so far this year. Meanwhile, the Auto-Tires-Trucks sector has returned an average of 24.6% on a year-to-date basis. As we can see, CarGurus is performing better than its sector in the calendar year.OPENLANE (KAR) 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 37.3%.Over the past three months, OPENLANE's consensus EPS estimate for the current year has increased 8.6%. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, CarGurus belongs to the Automotive - Replacement Parts industry, a group that includes 6 individual stocks and currently sits at #32 in the Zacks Industry Rank. Stocks in this group have lost about 17.5% so far this year, so CARG is performing better this group in terms of year-to-date returns.OPENLANE, however, belongs to the Automotive - Original Equipment industry. Currently, this 51-stock industry is ranked #157. The industry has moved -25.3% so far this year.CarGurus and OPENLANE could continue their solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to these stocks.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 CarGurus, Inc. (CARG): Free Stock Analysis Report OPENLANE, Inc. (KAR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks