The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Astec Industries (ASTE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Astec Industries is a member of our Industrial Products group, which includes 179 different companies and currently sits at #7 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Astec Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ASTE's full-year earnings has moved 14.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ASTE has gained about 47.6% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 18.5% on average. As we can see, Astec Industries is performing better than its sector in the calendar year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Flowserve (FLS). The stock has returned 26.1% year-to-date.
Over the past three months, Flowserve's consensus EPS estimate for the current year has increased 4.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Astec Industries is a member of the Manufacturing - Construction and Mining industry, which includes 6 individual companies and currently sits at #90 in the Zacks Industry Rank. Stocks in this group have gained about 31.4% so far this year, so ASTE is performing better this group in terms of year-to-date returns.
Flowserve, however, belongs to the Manufacturing - General Industrial industry. Currently, this 43-stock industry is ranked #70. The industry has moved +16.6% so far this year.
Astec Industries and Flowserve 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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Astec Industries, Inc. (ASTE): Free Stock Analysis Report Flowserve Corporation (FLS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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