Is Applied DNA Sciences (APDN) Outperforming Other Industrial Products Stocks This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Applied DNA Sciences (APDN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Applied DNA Sciences is a member of our Industrial Products group, which includes 227 different companies and currently sits at #3 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. Applied DNA Sciences is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for APDN's full-year earnings has moved 7.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, APDN has gained about 10.4% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 2.4% on average. This means that Applied DNA Sciences is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Encore Wire (WIRE). The stock is up 2.6% year-to-date.
The consensus estimate for Encore Wire's current year EPS has increased 4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Applied DNA Sciences belongs to the Security and Safety Services industry, a group that includes 20 individual stocks and currently sits at #37 in the Zacks Industry Rank. This group has gained an average of 1.4% so far this year, so APDN is performing better in this area.
In contrast, Encore Wire falls under the Wire and Cable Products industry. Currently, this industry has 4 stocks and is ranked #57. Since the beginning of the year, the industry has moved -3.7%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Applied DNA Sciences and Encore Wire as they could maintain their solid performance.
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Applied DNA Sciences Inc (APDN) : Free Stock Analysis Report
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