Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has Cummins (CMI) 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.
Cummins is a member of our Auto-Tires-Trucks group, which includes 101 different companies and currently sits at #13 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. Cummins is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CMI's full-year earnings has moved 8.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CMI has returned 37.7% so far this year. At the same time, Auto-Tires-Trucks stocks have lost an average of 2%. As we can see, Cummins is performing better than its sector in the calendar year.
Custom Truck One Source, Inc. (CTOS) 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 70.8%.
In Custom Truck One Source, Inc.'s case, the consensus EPS estimate for the current year increased 237.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cummins belongs to the Automotive - Internal Combustion Engines industry, a group that includes 1 individual stocks and currently sits at #11 in the Zacks Industry Rank. Stocks in this group have gained about 37.1% so far this year, so CMI is performing better this group in terms of year-to-date returns.
Custom Truck One Source, Inc., however, belongs to the Automotive - Original Equipment industry. Currently, this 52-stock industry is ranked #163. The industry has moved +2% so far this year.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Cummins and Custom Truck One Source, Inc. as they could maintain their solid performance.
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Cummins Inc. (CMI): Free Stock Analysis Report
Custom Truck One Source, Inc. (CTOS): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).