Is DNOW INC (DNOW) Outperforming Other Industrial Products Stocks 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. Has DNOW (DNOW) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
DNOW is a member of the Industrial Products sector. This group includes 226 individual stocks and currently holds a Zacks Sector Rank of #3. 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. DNOW is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DNOW's full-year earnings has moved 10.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DNOW has moved about 33.7% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 10.5%. This shows that DNOW is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is Mitsui & Co. (MITSY). The stock is up 25.8% year-to-date.
Over the past three months, Mitsui & Co.'s consensus EPS estimate for the current year has increased 4.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, DNOW belongs to the Manufacturing - General Industrial industry, a group that includes 43 individual companies and currently sits at #73 in the Zacks Industry Rank. On average, this group has gained an average of 10.7% so far this year, meaning that DNOW is performing better in terms of year-to-date returns.
Mitsui & Co. however, belongs to the Metal Products - Distribution industry. Currently, this 4-stock industry is ranked #8. The industry has moved -2.2% so far this year.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to DNOW and Mitsui & Co. as they could maintain their solid performance.
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DNOW Inc. (DNOW) : Free Stock Analysis Report
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