Is Broadwind Energy (BWEN) 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. Has Broadwind Energy, Inc. (BWEN) 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.
Broadwind Energy, Inc. is a member of the Industrial Products sector. This group includes 222 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. Broadwind Energy, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BWEN's full-year earnings has moved 11.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that BWEN has returned about 134.1% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 7.7%. This shows that Broadwind Energy, Inc. is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Bodycote (BYPLF). The stock has returned 29.5% year-to-date.
The consensus estimate for Bodycote's current year EPS has increased 10.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Broadwind Energy, Inc. is a member of the Manufacturing - General Industrial industry, which includes 42 individual companies and currently sits at #84 in the Zacks Industry Rank. Stocks in this group have gained about 10.6% so far this year, so BWEN 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 #222. The industry has moved +19.8% year to date.
Investors with an interest in Industrial Products stocks should continue to track Broadwind Energy, Inc. and Bodycote. These stocks will be looking to continue their solid performance.
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