The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Ashtead Group PLC (ASHTY) 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? 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.
Ashtead Group PLC is a member of our Industrial Products group, which includes 189 different companies and currently sits at #1 in 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 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. Ashtead Group PLC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ASHTY's full-year earnings has moved 12.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ASHTY has returned 20.7% so far this year. In comparison, Industrial Products companies have returned an average of 6.6%. This means that Ashtead Group PLC is performing better than its sector in terms of year-to-date returns.
Life360 (LIF) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 142.3%.
For Life360, the consensus EPS estimate for the current year has increased 29.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ashtead Group PLC belongs to the Industrial Services industry, which includes 18 individual stocks and currently sits at #39 in the Zacks Industry Rank. On average, this group has gained an average of 6% so far this year, meaning that ASHTY is performing better in terms of year-to-date returns.
In contrast, Life360 falls under the Security and Safety Services industry. Currently, this industry has 16 stocks and is ranked #18. Since the beginning of the year, the industry has moved +26.7%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Ashtead Group PLC and Life360 as they could maintain their solid performance.
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Ashtead Group PLC (ASHTY): Free Stock Analysis Report Life360, Inc. (LIF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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