Are Auto-Tires-Trucks Stocks Lagging PHINIA Inc. (PHIN) This Year?
Phinia is one of 96 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Phinia is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PHIN's full-year earnings has moved 6.8% 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, PHIN has returned 11.8% so far this year. Meanwhile, the Auto-Tires-Trucks sector has returned an average of -10.4% on a year-to-date basis. As we can see, Phinia is performing better than its sector in the calendar year.
One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is QuantumScape Corporation (QS). The stock is up 111.6% year-to-date.
In QuantumScape Corporation's case, the consensus EPS estimate for the current year increased 3.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Phinia belongs to the Automotive - Original Equipment industry, a group that includes 50 individual stocks and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 11.3% so far this year, meaning that PHIN is performing better in terms of year-to-date returns. QuantumScape Corporation is also part of the same industry.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Phinia and QuantumScape Corporation as they could maintain their solid performance.
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PHINIA Inc. (PHIN) : Free Stock Analysis Report
QuantumScape Corporation (QS) : Free Stock Analysis Report
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