For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Ferguson plc (FERG) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Ferguson plc is a member of the Industrial Products sector. This group includes 190 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Ferguson plc is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FERG's full-year earnings has moved 7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FERG has moved about 27% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 6.5%. This means that Ferguson plc is performing better than its sector in terms of year-to-date returns.
Kion Group (KIGRY) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 88.2%.
Over the past three months, Kion Group's consensus EPS estimate for the current year has increased 14.3%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Ferguson plc belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual companies and currently sits at #41 in the Zacks Industry Rank. Stocks in this group have gained about 6% so far this year, so FERG is performing better this group in terms of year-to-date returns.
On the other hand, Kion Group belongs to the Industrial Services industry. This 18-stock industry is currently ranked #46. The industry has moved +6.7% year to date.
Investors with an interest in Industrial Products stocks should continue to track Ferguson plc and Kion Group. These stocks will be looking to continue their solid performance.
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Ferguson plc (FERG): Free Stock Analysis Report Kion Group (KIGRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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