Are Conglomerates Stocks Lagging Griffon (GFF) This Year?
The Conglomerates group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Griffon (GFF) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Griffon is a member of the Conglomerates sector. This group includes 26 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. Griffon is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for GFF's full-year earnings has moved 17.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that GFF has returned about 11.5% since the start of the calendar year. In comparison, Conglomerates companies have returned an average of 2.2%. As we can see, Griffon is performing better than its sector in the calendar year.
Another Conglomerates stock, which has outperformed the sector so far this year, is Sumitomo Corp. (SSUMY). The stock has returned 3.9% year-to-date.
In Sumitomo Corp.'s case, the consensus EPS estimate for the current year increased 1.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Griffon belongs to the Diversified Operations industry, a group that includes 26 individual companies and currently sits at #52 in the Zacks Industry Rank. This group has gained an average of 2.2% so far this year, so GFF is performing better in this area. Sumitomo Corp. is also part of the same industry.
Investors with an interest in Conglomerates stocks should continue to track Griffon and Sumitomo Corp. These stocks will be looking to continue their solid performance.
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Griffon Corporation (GFF) : Free Stock Analysis Report
Sumitomo Corp. (SSUMY) : Free Stock Analysis Report
