Is Michelin (MGDDY) 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 Michelin (MGDDY) 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.Michelin is one of 103 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #4 in 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. Michelin is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for MGDDY's full-year earnings has moved 4.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Our latest available data shows that MGDDY has returned about 1.8% since the start of the calendar year. At the same time, Auto-Tires-Trucks stocks have lost an average of 10.1%. This means that Michelin is outperforming the sector as a whole this year.One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is Phinia (PHIN). The stock is up 0.5% year-to-date.For Phinia, the consensus EPS estimate for the current year has increased 16.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Michelin belongs to the Rubber - Tires industry, a group that includes 2 individual stocks and currently sits at #91 in the Zacks Industry Rank. Stocks in this group have lost about 22.6% so far this year, so MGDDY is performing better this group in terms of year-to-date returns. On the other hand, Phinia belongs to the Automotive - Original Equipment industry. This 54-stock industry is currently ranked #84. The industry has moved -5.2% year to date.Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Michelin and Phinia as they could maintain their solid performance.Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>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 Michelin (MGDDY): Free Stock Analysis Report PHINIA Inc. (PHIN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks