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The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. AGCO (AGCO) 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? 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.
AGCO is one of 218 individual stocks in the Industrial Products sector. Collectively, these companies sit 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 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. AGCO is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AGCO's full-year earnings has moved 19.01% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that AGCO has returned about 32% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have gained about 14.12% on average. This means that AGCO is performing better than its sector in terms of year-to-date returns.
Breaking things down more, AGCO is a member of the Manufacturing - Farm Equipment industry, which includes 6 individual companies and currently sits at #71 in the Zacks Industry Rank. Stocks in this group have gained about 30.24% so far this year, so AGCO is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to AGCO as it looks to continue its solid performance.
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