Investors interested in Conglomerates stocks should always be looking to find the best-performing companies in the group. Is Danaher (DHR) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Conglomerates peers, we might be able to answer that question.
Danaher is one of 24 companies in the Conglomerates group. The Conglomerates group currently sits at #1 within the Zacks Sector Rank. 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 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. DHR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DHR's full-year earnings has moved 0.43% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, DHR has returned 36.63% so far this year. At the same time, Conglomerates stocks have gained an average of 19.66%. This shows that Danaher is outperforming its peers so far this year.
Breaking things down more, DHR is a member of the Diversified Operations industry, which includes 24 individual companies and currently sits at #31 in the Zacks Industry Rank. On average, stocks in this group have gained 19.66% this year, meaning that DHR is performing better in terms of year-to-date returns.
Investors in the Conglomerates sector will want to keep a close eye on DHR as it attempts to continue its solid performance.
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