Is Astec Industries (ASTE) Outperforming Other Industrial Products Stocks This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Is Astec Industries (ASTE) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Astec Industries is one of 223 individual stocks in the Industrial Products sector. Collectively, these companies sit at #5 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. Astec Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ASTE's full-year earnings has moved 19% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ASTE has gained about 18.6% so far this year. In comparison, Industrial Products companies have returned an average of 7.4%. This shows that Astec Industries is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is Terex (TEX). The stock is up 34.6% year-to-date.
The consensus estimate for Terex's current year EPS has increased 19% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Astec Industries belongs to the Manufacturing - Construction and Mining industry, which includes 7 individual stocks and currently sits at #5 in the Zacks Industry Rank. This group has gained an average of 16.6% so far this year, so ASTE is performing better in this area. Terex is also part of the same industry.
Investors interested in the Industrial Products sector may want to keep a close eye on Astec Industries and Terex as they attempt to continue their solid performance.
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Astec Industries, Inc. (ASTE) : Free Stock Analysis Report
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