Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Is Hyliion Holdings Corp. (HYLN) one of those stocks right now? 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.
Hyliion Holdings Corp. is one of 100 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sits at #6 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Hyliion Holdings Corp. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for HYLN's full-year earnings has moved 3.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, HYLN has moved about 220.8% on a year-to-date basis. At the same time, Auto-Tires-Trucks stocks have gained an average of 21%. This means that Hyliion Holdings Corp. 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 Cummins (CMI). The stock has returned 45.5% year-to-date.
The consensus estimate for Cummins' current year EPS has increased 5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Hyliion Holdings Corp. belongs to the Automotive - Original Equipment industry, a group that includes 50 individual companies and currently sits at #137 in the Zacks Industry Rank. On average, stocks in this group have lost 24.5% this year, meaning that HYLN is performing better in terms of year-to-date returns.
Cummins, however, belongs to the Automotive - Internal Combustion Engines industry. Currently, this 1-stock industry is ranked #3. The industry has moved +46.7% so far this year.
Investors with an interest in Auto-Tires-Trucks stocks should continue to track Hyliion Holdings Corp. and Cummins. These stocks will be looking to continue their solid performance.
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