For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Powell Industries (POWL) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Powell Industries is one of 189 companies in the Industrial Products group. The Industrial Products group currently sits at #2 within the Zacks Sector Rank. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Powell Industries is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for POWL's full-year earnings has moved 1.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, POWL has moved about 29.8% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have gained about 6.6% on average. This means that Powell Industries is outperforming the sector as a whole this year.
Another stock in the Industrial Products sector, Crown Holdings (CCK), has outperformed the sector so far this year. The stock's year-to-date return is 16.6%.
The consensus estimate for Crown Holdings' current year EPS has increased 4.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Powell Industries belongs to the Manufacturing - Electronics industry, which includes 15 individual stocks and currently sits at #95 in the Zacks Industry Rank. Stocks in this group have gained about 9.9% so far this year, so POWL is performing better this group in terms of year-to-date returns.
Crown Holdings, however, belongs to the Containers - Metal and Glass industry. Currently, this 3-stock industry is ranked #95. The industry has moved -1% so far this year.
Powell Industries and Crown Holdings could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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Powell Industries, Inc. (POWL): Free Stock Analysis Report Crown Holdings, Inc. (CCK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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