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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 Geely Automobile Holdings Ltd. (GELYY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Geely Automobile Holdings Ltd. is one of 101 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Geely Automobile Holdings Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GELYY's full-year earnings has moved 5.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GELYY has returned about 80.2% since the start of the calendar year. Meanwhile, stocks in the Auto-Tires-Trucks group have gained about 23% on average. This means that Geely Automobile Holdings Ltd. is performing better than its sector in terms of year-to-date returns.
Tesla (TSLA) 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 69.5%.
For Tesla, the consensus EPS estimate for the current year has increased 14.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Geely Automobile Holdings Ltd. belongs to the Automotive - Foreign industry, a group that includes 23 individual companies and currently sits at #178 in the Zacks Industry Rank. This group has lost an average of 17.9% so far this year, so GELYY is performing better in this area.
On the other hand, Tesla belongs to the Automotive - Domestic industry. This 17-stock industry is currently ranked #126. The industry has moved +46.8% year to date.
Investors interested in the Auto-Tires-Trucks sector may want to keep a close eye on Geely Automobile Holdings Ltd. and Tesla as they attempt to continue their solid performance.
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