Is Crown Holdings (CCK) 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 Crown Holdings (CCK) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Crown Holdings is one of 224 companies in the Industrial Products group. The Industrial Products group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Crown Holdings is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CCK's full-year earnings has moved 4.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CCK has gained about 7% so far this year. At the same time, Industrial Products stocks have lost an average of 8.7%. This means that Crown Holdings is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Norsk Hydro ASA (NHYDY). The stock has returned 11.1% year-to-date.
The consensus estimate for Norsk Hydro ASA's current year EPS has increased 3.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Crown Holdings belongs to the Containers - Metal and Glass industry, a group that includes 3 individual companies and currently sits at #21 in the Zacks Industry Rank. On average, stocks in this group have lost 0.7% this year, meaning that CCK is performing better in terms of year-to-date returns.
In contrast, Norsk Hydro ASA falls under the Metal Products - Procurement and Fabrication industry. Currently, this industry has 12 stocks and is ranked #174. Since the beginning of the year, the industry has moved -3.7%.
Investors interested in the Industrial Products sector may want to keep a close eye on Crown Holdings and Norsk Hydro ASA as they attempt to continue their solid performance.
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