In the world of Auto-Tires-Trucks stocks, it is crucial for investors to identify companies that are excelling compared to their peers. One such company under scrutiny is Nikola NKLA, a member of the Auto-Tires-Trucks group that holds the #10 position in the Zacks Sector Rank, which evaluates the collective Zacks Rank of individual stocks in the sector to assess group strength. With a Zacks Rank of #2 (Buy), Nikola has been showing promising signs in terms of earnings estimates and revisions.
Over the past three months, analysts have upgraded NKLA's full-year earnings estimate by 30.2%, indicating an improved sentiment towards the company and bolstering its earnings outlook. Year-to-date, NKLA has demonstrated a 3.9% increase, surpassing the average -3.7% loss seen in the Auto-Tires-Trucks sector, showcasing its strong performance compared to peers.
Another noteworthy contender in the Auto-Tires-Trucks sector is Oshkosh OSK, which has also outperformed the sector since the beginning of the year with a 14% return. With a Zacks Rank of #2 (Buy) and a slight increase of 0.2% in its consensus EPS estimate over the last three months, Oshkosh continues to display positive momentum in its financial projections.
Digging deeper into the industry dynamics, while Nikola operates within the Automotive - Domestic industry ranked #57 in the Zacks Industry Rank, Oshkosh belongs to the Automotive - Original Equipment industry, currently placed at #140. Despite differences in industry rankings, both companies have managed to showcase resilience and favorable performance within their respective sectors.
Investors tracking the Auto-Tires-Trucks sector are advised to monitor the developments of both Nikola and Oshkosh, as their consistent outperformance and positive outlooks present potential opportunities for future growth and returns.