Is Enersys (ENS) Stock Outpacing Its Industrial Products Peers This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has EnerSys (ENS) been one of those stocks this year? 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.
EnerSys is one of 217 companies in the Industrial Products group. The Industrial Products group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. EnerSys is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ENS' full-year earnings has moved 11.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ENS has returned 40.4% so far this year. Meanwhile, the Industrial Products sector has returned an average of 7.5% on a year-to-date basis. This means that EnerSys is performing better than its sector in terms of year-to-date returns.
Another stock in the Industrial Products sector, Franklin Electric (FELE), has outperformed the sector so far this year. The stock's year-to-date return is 25.9%.
The consensus estimate for Franklin Electric's current year EPS has increased 3.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, EnerSys belongs to the Manufacturing - Electronics industry, a group that includes 17 individual companies and currently sits at #31 in the Zacks Industry Rank. Stocks in this group have gained about 9.6% so far this year, so ENS is performing better this group in terms of year-to-date returns. Franklin Electric is also part of the same industry.
Investors interested in the Industrial Products sector may want to keep a close eye on EnerSys and Franklin Electric as they attempt to continue their solid performance.
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