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 QuantumScape Corporation (QS) been one of those stocks this year? 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.
QuantumScape Corporation is one of 100 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. QuantumScape Corporation is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for QS' full-year earnings has moved 7.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, QS has returned 0.8% so far this year. At the same time, Auto-Tires-Trucks stocks have lost an average of 6.5%. This shows that QuantumScape Corporation is outperforming its peers so far this year.
One other Auto-Tires-Trucks stock that has outperformed the sector so far this year is XPeng Inc. Sponsored ADR (XPEV). The stock is up 41% year-to-date.
The consensus estimate for XPeng Inc. Sponsored ADR's current year EPS has increased 33.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, QuantumScape Corporation is a member of the Automotive - Original Equipment industry, which includes 50 individual companies and currently sits at #147 in the Zacks Industry Rank. On average, stocks in this group have gained 9% this year, meaning that QS is slightly underperforming its industry in terms of year-to-date returns.
In contrast, XPeng Inc. Sponsored ADR falls under the Automotive - Foreign industry. Currently, this industry has 23 stocks and is ranked #154. Since the beginning of the year, the industry has moved -1%.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track QuantumScape Corporation and XPeng Inc. Sponsored ADR. These stocks will be looking to continue their solid performance.
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QuantumScape Corporation (QS) : Free Stock Analysis Report
XPeng Inc. Sponsored ADR (XPEV) : Free Stock Analysis Report
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