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Is NIO (NIO) 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. Is NIO (NIO) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.

NIO is one of 90 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #3 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 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. NIO is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for NIO's full-year earnings has moved 41.60% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, NIO has gained about 378.36% so far this year. At the same time, Auto-Tires-Trucks stocks have gained an average of 37.95%. As we can see, NIO is performing better than its sector in the calendar year.

Looking more specifically, NIO belongs to the Automotive - Foreign industry, which includes 20 individual stocks and currently sits at #100 in the Zacks Industry Rank. This group has lost an average of 5.58% so far this year, so NIO is performing better in this area.

Investors in the Auto-Tires-Trucks sector will want to keep a close eye on NIO as it attempts to continue its solid performance.


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