For those looking to find strong Conglomerates stocks, it is prudent to search for companies in the group that are outperforming their peers. Carlisle Companies (CSL) 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? One simple way to answer this question is to take a look at the year-to-date performance of CSL and the rest of the Conglomerates group's stocks.
Carlisle Companies is a member of the Conglomerates sector. This group includes 24 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CSL is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CSL's full-year earnings has moved 4.52% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CSL has returned 37.97% so far this year. At the same time, Conglomerates stocks have gained an average of 17.97%. This means that Carlisle Companies is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CSL belongs to the Diversified Operations industry, which includes 24 individual stocks and currently sits at #23 in the Zacks Industry Rank. On average, stocks in this group have gained 17.97% this year, meaning that CSL is performing better in terms of year-to-date returns.
CSL will likely be looking to continue its solid performance, so investors interested in Conglomerates stocks should continue to pay close attention to the company.
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