Is OI Glass (OI) Outperforming Other Industrial Products Stocks This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. O-I Glass (OI) 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? 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.
O-I Glass is a member of the Industrial Products sector. This group includes 217 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. O-I Glass is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OI's full-year earnings has moved 23.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, OI has returned 31.3% so far this year. Meanwhile, the Industrial Products sector has returned an average of 2.6% on a year-to-date basis. This means that O-I Glass is outperforming the sector as a whole this year.
Eos Energy Enterprises, Inc. (EOSE) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 27.7%.
In Eos Energy Enterprises, Inc.'s case, the consensus EPS estimate for the current year increased 1.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, O-I Glass belongs to the Glass Products industry, a group that includes 6 individual stocks and currently sits at #20 in the Zacks Industry Rank. On average, stocks in this group have gained 2.2% this year, meaning that OI is performing better in terms of year-to-date returns.
In contrast, Eos Energy Enterprises, Inc. falls under the Industrial Services industry. Currently, this industry has 23 stocks and is ranked #86. Since the beginning of the year, the industry has moved +12.7%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to O-I Glass and Eos Energy Enterprises, Inc. as they could maintain their solid performance.
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