Is Modine Manufacturing (MOD) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?
The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Modine Manufacturing (MOD) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Modine Manufacturing is one of 109 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #13 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. MOD is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MOD's full-year earnings has moved 9.09% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, MOD has returned 27.15% so far this year. Meanwhile, the Auto-Tires-Trucks sector has returned an average of -3.71% on a year-to-date basis. As we can see, Modine Manufacturing is performing better than its sector in the calendar year.
Looking more specifically, MOD belongs to the Automotive - Original Equipment industry, a group that includes 56 individual stocks and currently sits at #204 in the Zacks Industry Rank. On average, this group has lost an average of 25.17% so far this year, meaning that MOD is performing better in terms of year-to-date returns.
MOD will likely be looking to continue its solid performance, so investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to the company.
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