For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Agco (AGCO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Agco is one of 189 companies in the Industrial Products group. The Industrial Products group currently sits at #4 within the Zacks Sector Rank. 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. Agco is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AGCO's full-year earnings has moved 15.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AGCO has returned 21.1% so far this year. In comparison, Industrial Products companies have returned an average of 5.9%. This means that Agco is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is The Japan Steel Works, Ltd. (JPSWY). The stock is up 72.8% year-to-date.
Over the past three months, The Japan Steel Works, Ltd.'s consensus EPS estimate for the current year has increased 9.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Agco belongs to the Manufacturing - Farm Equipment industry, a group that includes 7 individual stocks and currently sits at #71 in the Zacks Industry Rank. Stocks in this group have gained about 15.1% so far this year, so AGCO is performing better this group in terms of year-to-date returns.
In contrast, The Japan Steel Works, Ltd. falls under the Manufacturing - General Industrial industry. Currently, this industry has 41 stocks and is ranked #51. Since the beginning of the year, the industry has moved +6.7%.
Investors interested in the Industrial Products sector may want to keep a close eye on Agco and The Japan Steel Works, Ltd. 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
AGCO Corporation (AGCO): Free Stock Analysis Report The Japan Steel Works, Ltd. (JPSWY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
