Is Griffon (GFF) Outperforming Other Conglomerates Stocks This Year?
For those looking to find strong Conglomerates stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Griffon (GFF) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Griffon is a member of the Conglomerates sector. This group includes 25 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Griffon is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GFF's full-year earnings has moved 3.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GFF has moved about 37.9% on a year-to-date basis. Meanwhile, the Conglomerates sector has returned an average of 2% on a year-to-date basis. This means that Griffon is performing better than its sector in terms of year-to-date returns.
Star Equity (STRR) is another Conglomerates stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 43.8%.
In Star Equity's case, the consensus EPS estimate for the current year increased 77.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Griffon belongs to the Diversified Operations industry, a group that includes 25 individual companies and currently sits at #87 in the Zacks Industry Rank. On average, this group has gained an average of 2% so far this year, meaning that GFF is performing better in terms of year-to-date returns. Star Equity is also part of the same industry.
Griffon and Star Equity could continue their solid performance, so investors interested in Conglomerates stocks should continue to pay close attention to these stocks.
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Griffon Corporation (GFF) : Free Stock Analysis Report
Star Equity Holdings, Inc. (STRR) : Free Stock Analysis Report
