Are Industrial Products Stocks Lagging Atkore (ATKR) This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has Atkore Inc. (ATKR) 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 Industrial Products sector should help us answer this question.
Atkore Inc. is one of 223 companies in the Industrial Products group. The Industrial Products group currently sits at #5 within the Zacks Sector Rank. 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. Atkore Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, 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.
According to our latest data, ATKR has moved about 32.9% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have gained about 9.7% on average. 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 Hubbell (HUBB). The stock has returned 30.7% year-to-date.
In Hubbell's case, the consensus EPS estimate for the current year increased 10.9% 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 #44 in the Zacks Industry Rank. On average, stocks in this group have gained 17.3% this year, meaning that ATKR is performing better in terms of year-to-date returns.
In contrast, Hubbell falls under the Manufacturing - Electrical Utilities industry. Currently, this industry has 1 stocks and is ranked #6. Since the beginning of the year, the industry has moved +31.6%.
Investors with an interest in Industrial Products stocks should continue to track Atkore Inc. and Hubbell. These stocks will be looking to continue their solid performance.
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