Is Griffon (GFF) Stock Outpacing Its Conglomerates Peers This Year?
The Conglomerates group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Griffon (GFF) 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 Conglomerates sector should help us answer this question.
Griffon is one of 25 individual stocks in the Conglomerates sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Griffon is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GFF's full-year earnings has moved 13.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, GFF has moved about 63.2% on a year-to-date basis. Meanwhile, stocks in the Conglomerates group have gained about 6.7% on average. As we can see, Griffon is performing better than its sector in the calendar year.
One other Conglomerates stock that has outperformed the sector so far this year is Star Equity (STRR). The stock is up 19.9% year-to-date.
For Star Equity, the consensus EPS estimate for the current year has increased 77.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Griffon belongs to the Diversified Operations industry, a group that includes 25 individual stocks and currently sits at #58 in the Zacks Industry Rank. Stocks in this group have gained about 6.7% so far this year, so GFF is performing better this group in terms of year-to-date returns. Star Equity is also part of the same industry.
Investors interested in the Conglomerates sector may want to keep a close eye on Griffon and Star Equity as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Griffon Corporation (GFF) : Free Stock Analysis Report
Star Equity Holdings, Inc. (STRR) : Free Stock Analysis Report
