Has Fuel Tech (FTEK) Outpaced 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. Fuel Tech, Inc. (FTEK) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Fuel Tech, Inc. is one of 226 companies in the Industrial Products group. The Industrial Products group currently sits at #3 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. Fuel Tech, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FTEK's full-year earnings has moved 62.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FTEK has returned about 14.3% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have gained about 10.6% on average. This means that Fuel Tech, Inc. is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Parker-Hannifin (PH). The stock is up 19.2% year-to-date.
For Parker-Hannifin, the consensus EPS estimate for the current year has increased 4.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Fuel Tech, Inc. belongs to the Pollution Control industry, a group that includes 11 individual companies and currently sits at #51 in the Zacks Industry Rank. On average, stocks in this group have gained 11.9% this year, meaning that FTEK is performing better in terms of year-to-date returns.
Parker-Hannifin, however, belongs to the Manufacturing - General Industrial industry. Currently, this 43-stock industry is ranked #72. The industry has moved +10.7% so far this year.
Fuel Tech, Inc. and Parker-Hannifin could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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