Investors focused on the Industrial Products space have likely heard of ForeScout Technologies (FSCT), but is the stock performing well in comparison to the rest of its sector peers? 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.
ForeScout Technologies is one of 208 companies in the Industrial Products group. The Industrial Products group currently sits at #14 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. FSCT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FSCT's full-year earnings has moved 8.13% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FSCT has moved about 10.69% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of -11%. This shows that ForeScout Technologies is outperforming its peers so far this year.
Breaking things down more, FSCT is a member of the Security and Safety Services industry, which includes 18 individual companies and currently sits at #228 in the Zacks Industry Rank. On average, stocks in this group have lost 29.06% this year, meaning that FSCT is performing better in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track FSCT. The stock will be looking to continue its solid performance.
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