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 Global Industrial (GIC) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Global Industrial is a member of the Industrial Products sector. This group includes 189 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Global Industrial is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GIC's full-year earnings has moved 16.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, GIC has moved about 39.3% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 7.2%. This means that Global Industrial is performing better than its sector in terms of year-to-date returns.
Another stock in the Industrial Products sector, Gorman-Rupp (GRC), has outperformed the sector so far this year. The stock's year-to-date return is 10.4%.
Over the past three months, Gorman-Rupp's consensus EPS estimate for the current year has increased 2.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Global Industrial belongs to the Industrial Services industry, which includes 18 individual stocks and currently sits at #16 in the Zacks Industry Rank. This group has gained an average of 1.8% so far this year, so GIC is performing better in this area.
On the other hand, Gorman-Rupp belongs to the Manufacturing - General Industrial industry. This 41-stock industry is currently ranked #39. The industry has moved +5% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Global Industrial and Gorman-Rupp as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Global Industrial Company (GIC): Free Stock Analysis Report Gorman-Rupp Company (The) (GRC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
