Nikola (NKLA) Stock: A Beacon of Light in the Auto-Tires-Trucks Sector? Nikola (NKLA) Stock: A Beacon of Light in the Auto-Tires-Trucks Sector?

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Curious about strong performers in the Auto-Tires-Trucks realm? Look no further than those outshining their peers. Could Nikola NKLA be at the forefront? Dive into its year-to-date performance to unveil the answer.

Nikola, part of the Auto-Tires-Trucks cohort, among 110 companies, ranks #10 in the Zacks Sector Rank. This rank evaluates 16 groups, scrutinizing individual stocks’ average Zacks Rank to assess each group’s vigor.

The Zacks Rank, a sturdy system spotlighting earnings estimates and revisions, hails stocks embodying attributes to surpass the market in the next one to three months. Currently, Nikola boasts a Zacks Rank of #2 (Buy).

In the last three months, NKLA’s consensus estimate for annual earnings has soared by 30.2%. Signifying analysts’ brighter outlook, the company’s forecasts stand firmer.

Year-to-date, NKLA has surged by around 3.9%. Contrarily, Auto-Tires-Trucks stocks have dwindled, averaging a 3.7% loss. Nikola’s superior performance against its sector in YTD returns is evident.

Oshkosh OSK, another Auto-Tires-Trucks contender, has exceeded sector expectations this year. Since January, the stock has yielded 14%.

Over three months, Oshkosh’s current-year EPS consensus surged by 0.2%. Currently adorned with a Zacks Rank of #2 (Buy), the stock perseveres.

Into the finer details, Nikola is nestled in the Automotive – Domestic domain alongside 20 enterprises, standing at #57 in the Zacks Industry Rank. While this group has diminished by an average of 19.4% this year, NKLA shines in this space.

Conversely, Oshkosh thrives in the Automotive – Original Equipment habitat. In a 55-stock industry rated #140 at the moment, this sector has risen by +6% this year.

Investors with a keen eye on the Auto-Tires-Trucks domain would be wise to track Nikola and Oshkosh as they strive to uphold their remarkable showings.

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