For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Ferguson plc (FERG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Ferguson plc is one of 186 individual stocks in the Industrial Products sector. Collectively, these companies sit at #12 in 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. Ferguson plc is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for FERG's full-year earnings has moved 1.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, FERG has returned 35.8% so far this year. In comparison, Industrial Products companies have returned an average of 2.6%. This shows that Ferguson plc is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is TriMas (TRS). The stock is up 27.9% year-to-date.
For TriMas, the consensus EPS estimate for the current year has increased 3.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Ferguson plc belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual stocks and currently sits at #153 in the Zacks Industry Rank. This group has gained an average of 5.2% so far this year, so FERG is performing better in this area.
TriMas, however, belongs to the Metal Products - Procurement and Fabrication industry. Currently, this 7-stock industry is ranked #9. The industry has moved +15.7% so far this year.
Ferguson plc and TriMas 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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Ferguson plc (FERG): Free Stock Analysis Report TriMas Corporation (TRS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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