Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has Kone Oyj Unsponsored ADR (KNYJY) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Kone Oyj Unsponsored ADR is one of 190 individual stocks in the Industrial Products sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Kone Oyj Unsponsored ADR is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for KNYJY's full-year earnings has moved 7.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, KNYJY has gained about 34.4% so far this year. At the same time, Industrial Products stocks have gained an average of 6.1%. This shows that Kone Oyj Unsponsored ADR is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is MSC Industrial (MSM). The stock is up 20% year-to-date.
Over the past three months, MSC Industrial's consensus EPS estimate for the current year has increased 1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Kone Oyj Unsponsored ADR belongs to the Manufacturing - Electronics industry, which includes 15 individual stocks and currently sits at #90 in the Zacks Industry Rank. On average, stocks in this group have gained 6.1% this year, meaning that KNYJY is performing better in terms of year-to-date returns.
In contrast, MSC Industrial falls under the Industrial Services industry. Currently, this industry has 18 stocks and is ranked #69. Since the beginning of the year, the industry has moved +2.3%.
Investors interested in the Industrial Products sector may want to keep a close eye on Kone Oyj Unsponsored ADR and MSC Industrial as they attempt to continue their solid performance.
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Kone Oyj Unsponsored ADR (KNYJY): Free Stock Analysis Report MSC Industrial Direct Company, Inc. (MSM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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