Are Industrial Products Stocks Lagging Atkore (ATKR) 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. Has Atkore Inc. (ATKR) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Atkore Inc. is a member of the Industrial Products sector. This group includes 223 individual stocks and currently holds a Zacks Sector Rank of #5. 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. Atkore Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ATKR's full-year earnings has moved 8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ATKR has gained about 30.2% so far this year. Meanwhile, the Industrial Products sector has returned an average of 8.2% on a year-to-date basis. This means that Atkore Inc. is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is EnerSys (ENS). The stock has returned 30.9% year-to-date.
The consensus estimate for EnerSys' current year EPS has increased 0.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Atkore Inc. belongs to the Wire and Cable Products industry, a group that includes 3 individual companies and currently sits at #50 in the Zacks Industry Rank. Stocks in this group have gained about 21.7% so far this year, so ATKR is performing better this group in terms of year-to-date returns.
On the other hand, EnerSys belongs to the Manufacturing - Electronics industry. This 17-stock industry is currently ranked #100. The industry has moved +19.7% year to date.
Investors with an interest in Industrial Products stocks should continue to track Atkore Inc. and EnerSys. These stocks will be looking to continue their solid performance.
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