Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Is Powell Industries (POWL) one of those stocks right now? 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.
Powell Industries is one of 187 individual stocks in the Industrial Products sector. Collectively, these companies sit at #6 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 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. Powell Industries is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for POWL's full-year earnings has moved 0.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that POWL has returned about 52.6% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 3.8%. This means that Powell Industries is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is RBC Bearings (RBC). The stock is up 23.6% year-to-date.
For RBC Bearings, the consensus EPS estimate for the current year has increased 1.8% 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, a group that includes 15 individual stocks and currently sits at #65 in the Zacks Industry Rank. This group has gained an average of 10.3% so far this year, so POWL is performing better in this area.
In contrast, RBC Bearings falls under the Manufacturing - General Industrial industry. Currently, this industry has 41 stocks and is ranked #78. Since the beginning of the year, the industry has moved +3.9%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Powell Industries and RBC Bearings as they could maintain their solid performance.
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Powell Industries, Inc. (POWL): Free Stock Analysis Report RBC Bearings Incorporated (RBC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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