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. Has Garrett Motion (GTX) been one of those stocks this year? 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.
Garrett Motion is a member of the Auto-Tires-Trucks sector. This group includes 100 individual stocks and currently holds a Zacks Sector Rank of #14. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Garrett Motion is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GTX's full-year earnings has moved 4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, GTX has gained about 83.4% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of -9.7%. This means that Garrett Motion is outperforming the sector as a whole this year.
Phinia (PHIN) 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 26.8%.
The consensus estimate for Phinia's current year EPS has increased 7.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Garrett Motion belongs to the Automotive - Original Equipment industry, a group that includes 52 individual stocks and currently sits at #106 in the Zacks Industry Rank. On average, stocks in this group have gained 4.8% this year, meaning that GTX is performing better in terms of year-to-date returns. Phinia is also part of the same industry.
Investors interested in the Auto-Tires-Trucks sector may want to keep a close eye on Garrett Motion and Phinia as they attempt to continue their solid performance.
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Garrett Motion Inc. (GTX): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).