Is Applied Industrial Technologies (AIT) Outperforming Other Industrial Products Stocks This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Applied Industrial Technologies (AIT) 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.
Applied Industrial Technologies is a member of our Industrial Products group, which includes 215 different companies and currently sits at #9 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Applied Industrial Technologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AIT's full-year earnings has moved 7.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AIT has returned 23.2% so far this year. Meanwhile, stocks in the Industrial Products group have lost about 0.3% on average. This means that Applied Industrial Technologies is outperforming the sector as a whole this year.
Another stock in the Industrial Products sector, AptarGroup (ATR), has outperformed the sector so far this year. The stock's year-to-date return is 11.8%.
Over the past three months, AptarGroup's consensus EPS estimate for the current year has increased 5%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual companies and currently sits at #68 in the Zacks Industry Rank. On average, stocks in this group have gained 3% this year, meaning that AIT is performing better in terms of year-to-date returns.
In contrast, AptarGroup falls under the Containers - Paper and Packaging industry. Currently, this industry has 10 stocks and is ranked #95. Since the beginning of the year, the industry has moved -6.7%.
Investors interested in the Industrial Products sector may want to keep a close eye on Applied Industrial Technologies and AptarGroup as they attempt to continue their solid performance.
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Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
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