For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group 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? 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.
Atlas Copco AB is one of 180 companies in the Industrial Products group. The Industrial Products group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Atlas Copco AB is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ATLKY's full-year earnings has moved 1.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ATLKY has gained about 17% so far this year. In comparison, Industrial Products companies have returned an average of 10.6%. This shows that Atlas Copco AB is outperforming its peers so far this year.
DNOW (DNOW) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 17.4%.
The consensus estimate for DNOW's current year EPS has increased 9.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Atlas Copco AB belongs to the Manufacturing - General Industrial industry, a group that includes 43 individual stocks and currently sits at #79 in the Zacks Industry Rank. Stocks in this group have gained about 8.3% so far this year, so ATLKY is performing better this group in terms of year-to-date returns. DNOW is also part of the same industry.
Investors interested in the Industrial Products sector may want to keep a close eye on Atlas Copco AB and DNOW as they attempt to continue their solid performance.
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Atlas Copco AB (ATLKY): Free Stock Analysis Report DNOW Inc. (DNOW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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