Is Standard Motor Products (SMP) Shares Performing Better Than Other Auto-Tires-Trucks Companies This Year?

Examining Top Performers in the Auto-Tires-Trucks Sector

If you're seeking standout stocks within the Auto-Tires-Trucks sector, it's wise to focus on companies that are outpacing their competitors. One such candidate to consider is Standard Motor Products (SMP). To determine whether SMP has been a leader this year, let's compare its year-to-date performance with that of its industry peers.

Standard Motor Products is among 103 stocks that make up the Auto-Tires-Trucks group, which currently holds the #10 spot in the Zacks Sector Rank. This ranking system evaluates 16 sectors based on the average Zacks Rank of their constituent companies, with #1 being the strongest.

The Zacks Rank is a proven tool for identifying promising stocks, focusing on earnings forecasts and revisions. This model highlights companies that may outperform the broader market over the next one to three months. At present, Standard Motor Products holds a Zacks Rank of #2 (Buy).

Over the last quarter, analysts have raised their consensus estimate for SMP’s full-year earnings by 0.5%, indicating growing optimism about the company’s financial outlook.

According to the most recent data, SMP has climbed approximately 4.8% since the start of the year. In contrast, the average stock in the Auto-Tires-Trucks sector has declined by 5.2%. This demonstrates that Standard Motor Products has outperformed its sector in terms of returns so far in 2024.

Another notable stock in this sector is Yamaha Motor Co., Ltd. (YMHAY), which has posted a modest gain of 0.2% year-to-date.

Analyst expectations for Yamaha Motor’s current-year earnings per share have surged 27.8% over the past three months, and the stock also carries a Zacks Rank of #2 (Buy).

Industry Breakdown

Standard Motor Products is part of the Automotive - Replacement Parts industry, which consists of seven stocks and is ranked #157 in the Zacks Industry Rank. This group has achieved an average gain of 6.9% this year, meaning SMP is slightly lagging its direct industry peers.

Meanwhile, Yamaha Motor Co., Ltd. is classified under the Automotive - Foreign industry, which includes 23 stocks and currently holds the #72 spot. This industry has advanced by 2% since the beginning of the year.

Looking ahead, investors interested in the Auto-Tires-Trucks sector should keep a close watch on both Standard Motor Products and Yamaha Motor Co., Ltd., as both companies have the potential to continue their strong performance.

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