Are Industrial Products Stocks Lagging Flowserve (FLS) This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Flowserve (FLS) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Flowserve is one of 227 companies in the Industrial Products group. The Industrial Products group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Flowserve is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FLS' full-year earnings has moved 1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, FLS has returned 3.2% so far this year. In comparison, Industrial Products companies have returned an average of 2.9%. This means that Flowserve is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Mitsui & Co. (MITSY). The stock is up 13.9% year-to-date.
For Mitsui & Co. the consensus EPS estimate for the current year has increased 4.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Flowserve belongs to the Manufacturing - General Industrial industry, a group that includes 43 individual stocks and currently sits at #65 in the Zacks Industry Rank. This group has gained an average of 5.2% so far this year, so FLS is slightly underperforming its industry in this area.
On the other hand, Mitsui & Co. belongs to the Metal Products - Distribution industry. This 4-stock industry is currently ranked #6. The industry has moved +3.8% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Flowserve and Mitsui & Co. as they could maintain their solid performance.
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