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 Atlas Copco AB (ATLKY) been one of those stocks this year? 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 a member of the Industrial Products sector. This group includes 179 individual stocks and currently holds a Zacks Sector Rank of #7. 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 shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ATLKY has gained about 20% so far this year. In comparison, Industrial Products companies have returned an average of 18.4%. This shows that Atlas Copco AB is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is DNOW (DNOW). The stock is up 22% year-to-date.
For DNOW, the consensus EPS estimate for the current year has increased 9.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Atlas Copco AB belongs to the Manufacturing - General Industrial industry, which includes 43 individual stocks and currently sits at #64 in the Zacks Industry Rank. On average, this group has gained an average of 16.9% so far this year, meaning that ATLKY is performing better in terms of year-to-date returns. DNOW is also part of the same industry.
Investors with an interest in Industrial Products stocks should continue to track Atlas Copco AB and DNOW. These stocks will be looking 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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