The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Garrett Motion (GTX) 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.
Garrett Motion is one of 104 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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).
Over the past 90 days, 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.
According to our latest data, GTX has moved about 85.3% on a year-to-date basis. Meanwhile, the Auto-Tires-Trucks sector has returned an average of -7.6% on a year-to-date basis. As we can see, Garrett Motion is performing better than its sector in the calendar year.
Another stock in the Auto-Tires-Trucks sector, Xos, Inc. (XOS), has outperformed the sector so far this year. The stock's year-to-date return is 36.5%.
In Xos, Inc.'s case, the consensus EPS estimate for the current year increased 5.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Garrett Motion belongs to the Automotive - Original Equipment industry, which includes 52 individual stocks and currently sits at #109 in the Zacks Industry Rank. On average, stocks in this group have gained 4.5% this year, meaning that GTX is performing better in terms of year-to-date returns.
On the other hand, Xos, Inc. belongs to the Automotive - Domestic industry. This 17-stock industry is currently ranked #69. The industry has moved -7% year to date.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track Garrett Motion and Xos, Inc.. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).