For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Eos Energy Enterprises, Inc. (EOSE) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Eos Energy Enterprises, Inc. is a member of the Industrial Products sector. This group includes 190 individual stocks and currently holds a Zacks Sector Rank of #9. 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 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. Eos Energy Enterprises, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for EOSE's full-year earnings has moved 1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, EOSE has returned 27.8% so far this year. Meanwhile, stocks in the Industrial Products group have lost about 5.2% on average. This means that Eos Energy Enterprises, Inc. is outperforming the sector as a whole this year.
DXP Enterprises (DXPE) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 2.5%.
In DXP Enterprises' case, the consensus EPS estimate for the current year increased 22.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Eos Energy Enterprises, Inc. is a member of the Industrial Services industry, which includes 18 individual companies and currently sits at #156 in the Zacks Industry Rank. Stocks in this group have lost about 10.3% so far this year, so EOSE is performing better this group in terms of year-to-date returns.
In contrast, DXP Enterprises falls under the Manufacturing - General Industrial industry. Currently, this industry has 38 stocks and is ranked #140. Since the beginning of the year, the industry has moved -3.9%.
Investors interested in the Industrial Products sector may want to keep a close eye on Eos Energy Enterprises, Inc. and DXP Enterprises as they attempt to continue their solid performance.
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Eos Energy Enterprises, Inc. (EOSE): Free Stock Analysis Report DXP Enterprises, Inc. (DXPE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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