Yahoo Finance Is QuantumScape (QS) Outperforming Other Auto-Tires-Trucks Stocks 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. Is QuantumScape Corporation (QS) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
QuantumScape Corporation is one of 119 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #15 within 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 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. 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 2.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, QS has gained about 41.1% so far this year. In comparison, Auto-Tires-Trucks companies have returned an average of 15.9%. This means that QuantumScape Corporation is performing better than its sector in terms of year-to-date returns.
Another Auto-Tires-Trucks stock, which has outperformed the sector so far this year, is Ferrari (RACE). The stock has returned 31.2% year-to-date.
In Ferrari's case, the consensus EPS estimate for the current year increased 9.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, QuantumScape Corporation belongs to the Automotive - Original Equipment industry, which includes 61 individual stocks and currently sits at #171 in the Zacks Industry Rank. On average, stocks in this group have gained 8.8% this year, meaning that QS is performing better in terms of year-to-date returns. Ferrari is also part of the same industry.
QuantumScape Corporation and Ferrari 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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QuantumScape Corporation (QS) : Free Stock Analysis Report
Ferrari N.V. (RACE) : Free Stock Analysis Report
