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Yahoo Finance Plus Is AGCO (AGCO) Stock Outpacing Its Industrial Products Peers This Year?
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? Let's take a closer look at the stock's year-to-date performance to find out.
Agco is one of 221 individual stocks in the Industrial Products sector. Collectively, these companies sit at #4 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 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. Agco is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AGCO's full-year earnings has moved 2.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AGCO has returned 1.7% so far this year. At the same time, Industrial Products stocks have lost an average of 7%. As we can see, Agco is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, Deere (DE), has outperformed the sector so far this year. The stock's year-to-date return is 2.2%.
The consensus estimate for Deere's current year EPS has increased 4.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Agco belongs to the Manufacturing - Farm Equipment industry, a group that includes 8 individual companies and currently sits at #33 in the Zacks Industry Rank. Stocks in this group have gained about 27.2% so far this year, so AGCO is slightly underperforming its industry this group in terms of year-to-date returns. Deere is also part of the same industry.
Agco and Deere could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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