In the competitive world of Auto-Tires-Trucks stocks, the real winners are those that outshine their counterparts. Is Nikola’s stock trajectory putting pedal to the metal compared to its peers? Let’s dissect the performance data to discern the frontrunner of the year.
Nikola is a prominent player in the Auto-Tires-Trucks cohort, part of a substantial group comprising 110 companies, currently claiming the 10th spot in the Zacks Sector Rank. These rankings consider 16 subgroups, evaluating the average Zacks Rank of the stocks within to determine the resilience of each batch.
Based on the Zacks Rank system, which hinges on earnings estimates and revisions, Nikola currently secures a #2 ranking (Buy).
In the last quarter, the Zacks Consensus Estimate for NKLA’s annual earnings surged by an impressive 30.2%, signaling a boost in analyst confidence and a fortified financial forecast for the company.
Year-to-date, Nikola has chugged ahead by approximately 3.9%. Simultaneously, the average dip in Auto-Tires-Trucks stocks stands at -3.7%, painting a picture where Nikola zooms past its sector peers in terms of returns.
Turning the ignition over to Oshkosh, another contender in the Auto-Tires-Trucks competition, we see a similar tale of triumph. Since the year’s inception, the stock has revved up a commendable 14%.
Over the past few months, Oshkosh’s consensus EPS estimate for the ongoing year nudged up by 0.2%. The stock presently flaunts a Zacks Rank of #2 (Buy).
Venturing deeper, Nikola finds its roots in the Automotive – Domestic sector, a league hosting 20 distinct companies and currently stationed at position #57 in the Zacks Industry Rank. This collection has weathered a mean slump of 19.4% this year, placing NKLA ahead in this aspect.
Conversely, Oshkosh is planted in the Automotive – Original Equipment realm, positioned within an industry of 55 stocks, marked at rank #140. The sector has seen a stride of +6% up to this point in the year.
For investors tracking the Auto-Tires-Trucks sector, keeping a vigilant eye on the performance strides of Nikola and Oshkosh could pave the way for promising gains in the future.