For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Broadwind Energy, Inc. (BWEN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Broadwind Energy, Inc. is a member of our Industrial Products group, which includes 189 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Broadwind Energy, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BWEN's full-year earnings has moved 23.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, BWEN has moved about 4.3% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have lost about 0.4% on average. This means that Broadwind Energy, Inc. is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Ferguson plc (FERG). The stock has returned 23.2% year-to-date.
The consensus estimate for Ferguson plc's current year EPS has increased 2.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Broadwind Energy, Inc. belongs to the Manufacturing - General Industrial industry, a group that includes 38 individual stocks and currently sits at #137 in the Zacks Industry Rank. On average, this group has gained an average of 1.1% so far this year, meaning that BWEN is performing better in terms of year-to-date returns. Ferguson plc is also part of the same industry.
Investors with an interest in Industrial Products stocks should continue to track Broadwind Energy, Inc. and Ferguson plc. These stocks will be looking to continue their solid performance.
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Broadwind Energy, Inc. (BWEN): Free Stock Analysis Report Ferguson plc (FERG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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