Is AZZ (AZZ) 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. Has AZZ (AZZ) been one of those stocks this year? 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.
AZZ is a member of the Industrial Products sector. This group includes 227 individual stocks and currently holds a Zacks Sector Rank of #2. 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. AZZ is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AZZ's full-year earnings has moved 4.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AZZ has gained about 10.9% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 1.3% on average. As we can see, AZZ is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Bodycote (BYPLF). The stock is up 7.8% year-to-date.
The consensus estimate for Bodycote's current year EPS has increased 0.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, AZZ is a member of the Manufacturing - Electronics industry, which includes 17 individual companies and currently sits at #27 in the Zacks Industry Rank. Stocks in this group have gained about 5.5% so far this year, so AZZ is performing better this group in terms of year-to-date returns.
On the other hand, Bodycote belongs to the Manufacturing - Thermal Products industry. This 4-stock industry is currently ranked #20. The industry has moved -4.9% year to date.
Investors with an interest in Industrial Products stocks should continue to track AZZ and Bodycote. These stocks will be looking to continue their solid performance.
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