The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Atlas Copco AB (ATLKY) 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? 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.
Atlas Copco AB is a member of the Industrial Products sector. This group includes 189 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Atlas Copco AB is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ATLKY's full-year earnings has moved 0.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ATLKY has moved about 12.7% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 7.1%. This means that Atlas Copco AB is performing better than its sector in terms of year-to-date returns.
Another stock in the Industrial Products sector, Fastenal (FAST), has outperformed the sector so far this year. The stock's year-to-date return is 32.2%.
Over the past three months, Fastenal's consensus EPS estimate for the current year has increased 2.1%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Atlas Copco AB belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual companies and currently sits at #59 in the Zacks Industry Rank. On average, this group has gained an average of 5.9% so far this year, meaning that ATLKY is performing better in terms of year-to-date returns.
On the other hand, Fastenal belongs to the Industrial Services industry. This 18-stock industry is currently ranked #42. The industry has moved +4.8% year to date.
Investors with an interest in Industrial Products stocks should continue to track Atlas Copco AB and Fastenal. These stocks will be looking to continue their solid performance.
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Atlas Copco AB (ATLKY): Free Stock Analysis Report Fastenal Company (FAST): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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