The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Nordson (NDSN) 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.
Nordson is one of 187 companies in the Industrial Products group. The Industrial Products group currently sits at #7 within the Zacks Sector Rank. 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 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. Nordson is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NDSN's full-year earnings has moved 1.1% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, NDSN has gained about 13.6% so far this year. Meanwhile, the Industrial Products sector has returned an average of 5.4% on a year-to-date basis. This means that Nordson is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Napco (NSSC). The stock has returned 23% year-to-date.
In Napco's case, the consensus EPS estimate for the current year increased 28.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Nordson belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual stocks and currently sits at #144 in the Zacks Industry Rank. On average, stocks in this group have gained 7.4% this year, meaning that NDSN is performing better in terms of year-to-date returns.
In contrast, Napco falls under the Security and Safety Services industry. Currently, this industry has 17 stocks and is ranked #24. Since the beginning of the year, the industry has moved +26%.
Investors with an interest in Industrial Products stocks should continue to track Nordson and Napco. These stocks will be looking to continue their solid performance.
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Nordson Corporation (NDSN): Free Stock Analysis Report NAPCO Security Technologies, Inc. (NSSC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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