Is Aeva Technologies (AEVA) Stock Outpacing Its Auto-Tires-Trucks Peers 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. Aeva Technologies, Inc. (AEVA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Aeva Technologies, Inc. is a member of the Auto-Tires-Trucks sector. This group includes 102 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 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. Aeva Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AEVA's full-year earnings has moved 23.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AEVA has returned about 301.1% since the start of the calendar year. At the same time, Auto-Tires-Trucks stocks have lost an average of 19.2%. As we can see, Aeva Technologies, Inc. is performing better than its sector in the calendar year.
Another Auto-Tires-Trucks stock, which has outperformed the sector so far this year, is Strattec Security (STRT). The stock has returned 32.1% year-to-date.
For Strattec Security, the consensus EPS estimate for the current year has increased 19.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Aeva Technologies, Inc. is a member of the Automotive - Original Equipment industry, which includes 52 individual companies and currently sits at #132 in the Zacks Industry Rank. This group has gained an average of 1% so far this year, so AEVA is performing better in this area. Strattec Security is also part of the same industry.
Aeva Technologies, Inc. and Strattec Security could continue their solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to these stocks.
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Strattec Security Corporation (STRT) : Free Stock Analysis Report
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