Is DMC Global (BOOM) Stock Outpacing Its Industrial Products Peers This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is DMC Global (BOOM) one of those stocks right now? 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.
DMC Global is one of 208 companies in the Industrial Products group. The Industrial Products group currently sits at #12 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 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. BOOM is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for BOOM's full-year earnings has moved 61.11% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BOOM has moved about 79.24% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have lost about 11.08% on average. This means that DMC Global is outperforming the sector as a whole this year.
Looking more specifically, BOOM belongs to the Industrial Services industry, a group that includes 15 individual stocks and currently sits at #78 in the Zacks Industry Rank. On average, this group has gained an average of 15.19% so far this year, meaning that BOOM is performing better in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track BOOM. The stock will be looking to continue its solid performance.
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